TD Ameritrade is Moving into Crypto

TDAmeritrade entering cryptocurrency market?  That’s the latest bullish rumor to hit the cryptocurrency industry.  TDAmeritrade, with 11 million retail clients, is believed to be working with ErisX to facilitate offering digital asset buying and selling!

This news is just yet another example of an established financial platform opening its doors to the crypto asset industry.  Other examples include Fidelity and Bakkt.  Clearly, digital currency interest is steadily increasing – not declining as some think.

According to The Block, TDAmeritrade is moving into the digital asset industry.  The publication cites an anonymous source “familiar with the situation” as linking the platform with ErisX.  We have been unable to confirm.

The story goes that TDAmeritrade is involved with testing how to link up different traditional asset exchanges with the ErisX platform.  If this is true, 11 million retail investors will soon have the opportunity to have direct exposure to crypto on a platform they’re comfortable with.

ErisX declined to give the names of its specific partners involved in the testing.  However, they did confirm that there was integration testing.

Lending truth to rumor is the fact that TDAmeritrade has been creating a cryptocurrency-focused team.  Sunayna Tuteja has been tapped to lead as the Head of Digital Assets at TDAmeritrade.

With all this, the big question remains – is crypto back?  We’ve gone through one of the longest crypto bear seasons to the point it’s been dubbed the crypto winter.

But during this time, we’ve seen the demand for crypto ascend – not decline.  Established investment institutions are developing their own products, like JP Morgan.  Intercontinental Exchange is currently waiting on regulatory approval for Bakkt, a highly anticipated trading platform.

What do you think?  Do you think the crypto winter is over?  Let us know on our Facebook page!