BofA is Setting Up Clients With Bitcoin (BTC) Futures Trading Accounts - Report

Bank of America (NYSE: BAC) has launched Bitcoin (BTC) futures trading accounts for some of its clients, Coindesk reports.

At least one or two clients have already been set up while others are waiting for their accounts to be ready. According to the report, BofA will use CME futures for its operations.

The bank’s dive in crypto comes after their rival Goldman Sachs relaunched its cryptocurrency trading desk earlier this month. In May, GS reportedly started buying and selling bitcoin futures.

According to Arcane Research, the open interest in bitcoin futures is down almost 60% from the peak in April. Similarly, the Bitcoin price is trading just above the $30,000 mark after plunging from the record highs set earlier this year.

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