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One of the sources said the bank decided to allow some clients to access the cryptocurrency market due to the large amount of margin required to trade the futures. Bank of America will also be using CME futures, CoinDesk noted.
However, it remains unclear when and if the bank is going to open bitcoin futures for all clients. As of press time, Bank of America has not made any official statement regarding the matter.
Earlier, the multinational investment bank launched a new research team focused on cryptocurrencies. Alkesh Shah, Founding Member, Data & Innovation Strategy Group at BofA, lead the team, and report to Michael Maras, who leads currencies and commodities research globally.
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