Yes, You Can Buy Ethereum on TD
Ameritrade, one of the largest online brokerages in the U.S.
, announced Thursday that it would begin trading bitcoin futures on its TD Ameritrade thinkorswim platform. The news sent bitcoin prices surging and sparked a buying stampede in the cryptocurrency market.
The move by Ameritrade is seen as a validation of bitcoin and other cryptocurrencies, which have been on a tear this year, with bitcoin prices up more than 1,000%. Many institutional investors have been cautious about investing in cryptocurrencies because of their volatile nature and lack of regulatory oversight.
The ability to trade bitcoin futures on a regulated exchange like Ameritrade will likely attract more institutional investors to the market and help to legitimize cryptocurrencies. Bitcoin futures are contracts that allow investors to bet on the direction of the price of bitcoin.
The news of Ameritrade’s plans sent the price of Ethereum, the second-largest cryptocurrency by market value, up 10%. Ethereum has been one of the best-performing cryptocurrencies this year, with prices up more than 2,000%.
Ethereum is often seen as a competitor to bitcoin, but the two cryptocurrencies have different use cases. Bitcoin is primarily used as a store of value, while Ethereum is used as a platform for decentralized applications and smart contracts.
The TD Ameritrade announcement is good news for Ethereum investors because it increases the liquidity of Ethereum and makes it easier to buy and sell the cryptocurrency. The news also highlights the growing institutional interest in Ethereum.