BLOCKCHAIN 5

If you have been following our latest cryptocurrency news, you probably know that the craze around Bitcoin is always here. People are looking for Bitcoin everywhere and over the past year, there has been a lot of buzz around TD Ameritrade and its dealing with crypto. Recently, the TD Ameritrade CEO stepped up and said that clients are literally asking for Bitcoin.

In 2018, the retail brokerage that services more than 11 million clients holding over $1 trillion worth of assets, backed a crypto upstart named  Eris Exchange (ErisX). This led to a mass speculation about what plans the firm has for cryptocurrency.

Even though nothing official has been announced yet, the TD Ameritrade CEO recently spoke about the interest, stating that his firm is seeing increased interest from its clientele for digital assets like Bitcoin.

In fact, the launch of Facebook’s Libra which was all over the altcoin news – and the resurgence in the crypto markets – led the TD Ameritrade CEO to believe that “clients are asking for it”. By it, he means digital assets such as Bitcoin and others.

When it comes to the actual reason behind this trend, Tim Hockey told The Street in an interview that it is mainly due to the mass media coverage – the one Libra has received – which has materialized in a lot of comments and questions from global regulators and investors. As our coming altcoin news showed, one of them was Donald Trump.

He also added that the sudden bout of renewed interest in cryptocurrencies can also be attributed to the “active investors” which is a group that is looking for alternative asset classes to outperform the indices and the decreasing yields of government bonds and other portfolio staples. He also pointed out to the ErisX exchange and its potential.

“I think the appeal for us is that [ErisX has] the biggest players in the Bitcoin space from a market making standpoint, both DRW and Virtu here, and you also have Cboe in a partnership with NEX. So you have people that are very well versed in this space and what we’re bringing to the table as a strategic investor is a pretty deep understanding of our 11+ million retail clients and what they look for when it comes to a product,” the TD Ameritrade CEO said.