Thousands of traders around the world have been waiting for the day institutional giants such as Fidelity, TDAmeritrade, and ETrade begin to allow customers to trade crypto markets, but for one TDAmeritrade user, that day has finally arrived. The TDAmeritrade user who goes by the handle @cryptopolis_x posted a screenshot of a BTC/USD market on Nasdaq through his TDAmeritrade account. The market is provided by CXERX, but the market isn’t available for everyone to use just yet.
BREAKING: BTC is now being traded on the Nasdaq! I bought one BTC through my TDAmeritrade account! According to the chart it started trading April 10, 2019!! Other digital assets are soon to follow!! ??? pic.twitter.com/1VgE1Whoa4
— Cryptopolis (@cryptopolis_x) April 22, 2019
In Testing Mode… for Now At Least
After contacting the customer support team at TDAmeritrade, @cryptopolis_x quickly discovered that the live trade team has no knowledge of the new market that has appeared and suggested that it could simply be a Paper Trade Desk test. While this might seem disappointing, the fact that TDAmeritrade is testing out a BTC/USD market is incredible news. It will need SEC approval before it goes ahead and officially launches the market, but the fact that it’s testing the market could imply that TDAmeritrade is already a long way into the regulation process.
UPDATE: According to TDAmeritrade support – it’s not a real trade in my account – it appears they are testing only using their Paper Trading platform. Support said “I’m not able to speak on it” -They did not know what CXERX is. Strange… But something is going on for sure! pic.twitter.com/gUxtHX0TNg
— Cryptopolis (@cryptopolis_x) April 22, 2019
Fidelity Could be About to Launch
It’s not just TDAmeritrade looking to bring crypto trading to its gigantic pool of investors – Fidelity is also looking to join the party. Fidelity announced that it was working on bringing crypto trading to its clients back in October, then teased a soft launch of the service for March 2019. However, the SEC has been slow in handing out regulation to Fidelity, which has caused the service to be delayed slightly. This TDAmeritrade testing could push Fidelity to chase up the SEC to try and speed through its license to run a crypto trading platform. If so, we could see billions of dollars flowing into crypto markets over the course of the next few months.
Bitcoin Powering Up
After 2017’s incredible bull run, more and more investors are looking to sink their teeth into Bitcoin’s potential. Over the last few weeks, Bitcoin has been shifting through the gears as fast as possible and is now well clear of $5,500. If TDAmeritrade and Fidelity both launch crypto trading platforms, the FOMO effect could help Bitcoin smash past its previous all-time high – a welcome sight for investors who got caught out during the 2018 price crash.
While an official launch date for its crypto trading services is yet to be announced by TDAmeritrade, we can rest at ease knowing that something huge is on the way. If you haven’t already filled your wallet with as much Bitcoin as possible, now might be the best time to do so – hold on, we’re heading to the moon!
