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Citigroup Gearing Up to Trade CME Bitcoin Futures


26 Aug 2021

#Bitcoin

U.S. banking giant Citigroup (NYSE: C) is awaiting regulatory approval to begin trading bitcoin (BTC, -3.36%) futures contracts on the Chicago Mercantile Exchange (CME), according to a source within the bank who asked to remain nameless. The bank is said to be fielding a surge in client demand for cryptocurrency exposure as bitcoin again mounts a climb toward $50,000. Citi, which is still working through the necessary regulatory approvals, would join fellow megabank Goldman Sachs in offering bitcoin futures trading.

A second person familiar with cryptocurrency derivatives markets said Citi is actively recruiting people to join a crypto-focused team in London, adding: “The team is likely to win approval to begin trading CME bitcoin futures first and then bitcoin exchange-traded notes (ETNs).” “Given the many questions around regulatory frameworks, supervisory expectations and other factors, we are being very thoughtful about our approach,” a Citigroup spokesperson told CoinDesk via email. “We are presently considering products such as futures for some of our institutional clients, as these operate under strong regulatory frameworks.”


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 60% 84 $22 748.42 -4.43% -1.03% $438 528 750 557 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 61.2% 84 $1 555.97 -5.37% -4.64% $190 410 100 470 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92% 1 $1.000091 -0.01% -0.01% $67 782 188 972 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 67.2% 66 $305.29 -4.06% -0.25% $48 206 368 616 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000104 0% 0% $42 774 029 954 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 65.6% 68 $0.394073 -4.81% -8.21% $20 020 347 586 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $1.000046 0% -0.05% $15 376 714 266 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 66.4% 76 $0.370078 -6.38% -1.58% $12 802 371 557 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 68.4% 68 $0.086874 -3.56% -1.95% $11 525 647 573 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 95.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 61.2% 77 $1.080803 -7.72% 8.31% $9 440 078 218 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 59.2% 91 $23.78 -9.76% -2.17% $8 837 591 941 SOL 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 61.6% 85 $6.14 -7.15% -8.34% $7 079 379 038 DOT 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 69.6% 63 $90.37 -6.80% -0.09% $6 522 048 437 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 64.4% 71 $0.062280 -2.40% -0.82% $6 332 388 858 WTRX 7 days price change

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