Bank of America Is Clearing Crypto ETPs for Hedge Funds in Europe: Sources

SourceYahoo News
SectorFinancial Markets
CountryMiddle east

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Bank of America’s prime brokerage unit has started the clearing and settlement of cryptocurrency exchange-traded products (ETPs) for hedge funds in Europe, according to three sources with knowledge of the matter.

This is the second recent move on the part of the traditionally conservative bank in the volatile cryptocurrency arena. As reported last week by CoinDesk, Bank of America has also approved the trading of bitcoin futures for some clients and is clearing cash-settled contracts.

Bank officials may have felt they could not ignore an asset class that has...read more...