Crypto Week In Review: $30B Ameritrade Brings Crypto to Mainstream, Coinbase Worth $8B

October 7, 2018

 

While the markets may indicate otherwise, the past seven days saw a slew of positive fundamental news bombard the cryptosphere, which has led some to pronounce that this week has been “the best week for crypto all year.” Earlier this week, on Wednesday, TD Ameritrade, an American brokerage firm with over $1.2 trillion worth of assets under management, announced that it had invested an undisclosed sum into ErisX, a crypto platform that has reportedly been in the works for months. According to the official announcement, ErisX, which has also been backed by DRW, Virtu Financial, and Cboe, is slated to become a fully-regulated, US-based derivative and investment vehicle exchange that will take a focus on digital assets.Eventually, if regulators give a green light, ErisX, which is headed by former Citigroup executive Thomas Chippas, intends to unveil spot trading and physically-delivered futures support for Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. As per reports, the platform could be launched by Q2 of 2019, with ErisX initially supporting spot trading, before branching out to futures.Speaking with CNBC Fast Money, Steven Quirk, executive vice president of TD Ameritrade’s Trader Group, explained that the bank’s top brass have high hopes for the platform and the firms backing it. 

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