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.
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.
Denys Serhiichuk
