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Brokerage Giant Interactive Brokers to Offer Crypto Trading. Will Fidelity and Charles Schwab Follow Suit?

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Wed, 06/09/2021 - 13:58
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Alex Dovbnya
Charles Schwab and Fidelity could be the next dominoes to fall now that Interactive Brokers is going to venture into crypto trading
Brokerage Giant Interactive Brokers to Offer Crypto Trading. Will Fidelity and Charles Schwab Follow Suit?
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Electronic trading giant Interactive Brokers—which competes with the likes of Fidelity, E*TRADE and TD Ameritrade—will offer cryptocurrency trading this summer, according to a report by CNBC.

CEO Thomas Peterffy claims that there is demand for such an offering among the firm's customers:

Customers certainly are asking for [crypto trading] and we expect to be ready to offer it to them by the end of the summer.

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Interactive Brokers is racing ahead of Fidelity and Charles Schwab with crypto trading.

Nate Geraci, president of The ETF Store, says it is only "a matter of time" until the big rivals will follow suit in a tweet:

Just a matter of time before Schwab, Fidelity, etc do as well. Will be interesting watching competitive dynamics w/ Coinbase.

Interactive Brokers already allows its users to trade Bitcoin futures.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.