Citigroup is working with regulators to start trading bitcoin futures: report

Institutional Investors • August 24, 2021, 12:38PM EDT

As reported by CoinDesk on August 24, Citigroup is performing the regulatory legwork necessary to start trading CME's bitcoin futures product.

Citing sources with knowledge of the process, CoinDesk said that institutional interest was pushing the banking giant to take up Bitcoin futures trading. Representatives for Citigroup have previously mentioned accumulated institutional interest in crypto trading and custody services.

For the foreseeable future, any bitcoin futures trading will almost certainly be limited to institutional clients.

One of the largest banks in the world, Citigroup has been ramping up its cryptocurrency activities in recent months. In June, Citigroup launched a new business unit focusing on blockchain and cryptocurrencies.

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Kollen Post is a senior reporter at The Block, covering all things policy and geopolitics from Washington, DC. That includes legislation and regulation, securities law and money laundering, cyber warfare, corruption, CBDCs, and blockchain’s role in the developing world. He speaks Russian and Arabic. You can send him leads at [email protected].