Beautiful Virgin Islands

Sunday, Sep 21, 2025

Citigroup Is Waiting For Approval To Offer Clients Bitcoin Futures

Citigroup Is Waiting For Approval To Offer Clients Bitcoin Futures

The U.S. banking giant Citigroup is currently awaiting approval to begin trading Chicago Mercantile Exchange Bitcoin futures, according to CoinDesk sources.

An anonymous source within the bank told CoinDesk that Citigroup is currently dealing with a recent uptick in demand for Bitcoin exposure among their clients. If approved, Citi would join the ranks of Goldman Sachs, and become the second major bank to offer Bitcoin futures trading.

A spokesperson for Citigroup wrote in an email:

“Our clients are increasingly interested in this space, and we are monitoring these developments. Given the many questions around regulatory frameworks, supervisory expectations, and other factors, we are being very thoughtful about our approach.”

“We are presently considering products such as futures for some of our institutional clients, as these operate under strong regulatory frameworks.”

Citigroup seeking Bitcoin futures trading approval is just the latest in a long line of conservative investment institutions venturing into Bitcoin.

In May, Goldman Sachs began offering certain clients access to a bitcoin via a derivative called non-deliverable forwards, according to Bloomberg Law. NDFs let holders bet on bitcoin’s short-term price direction while getting paid in cash, rather than bitcoin. Goldman hedges the bet by buying or selling bitcoin futures on the CME.

“The firm is not in a position to trade bitcoin, or any cryptocurrency (including ethereum) on a physical basis,” Goldman’s crypto trading head said in a memo obtained by CNBC.

Wells Fargo and JPMorgan both recently filed for passive Bitcoin funds. Recently, Coinbase announced a partnership with one of the largest traditional banks in Japan, Mitsubishi UFJ (MUFG) Financial Group, which will offer its account holders exclusive onboarding to the exchange platform.

In July The Bank of New York Mellon (BNY Mellon) announced it would back the launch of a new London-based cryptocurrency exchange called Pure Digital, the first major Bitcoin trading platform backed by a consortium of large banks.

At the time, Global Head of Foreign Exchange at BNY Mellon Jason Vitale spoke to the future of Bitcoin at large traditional banks: “Digital assets are only going to become more embedded in global markets in the years ahead and this collaboration accords with BNY Mellon’s wider strategy to develop a digital asset capability for clients across the entire trade life cycle.”

Citigroup, one of the largest banks in the U.S., holds some $23.7 trillion in assets under custody. In June, Citi launched a business unit to offer cryptocurrency-related products under the bank’s wealth management umbrella. In May 2021, Citi was said to be weighing cryptocurrency trading and custody, according to a Financial Times report.

During the last crypto bull run in 2017, Citi’s U.K. brokerage platform started offering clients access to Ethereum ETNs. But as the price of bitcoin dropped in 2018, the demand for the products declined and the offering was shelved.

Source: Citigroup Is Waiting For Approval To Offer Clients Bitcoin Futures – Fintechs.fi

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
EU Set to Bar Big Tech from New Financial Data Access Scheme
China Bans Livestreaming and AI in Religion Amid Crackdown on Shaolin Temple Scandal
Documents Reveal Mandelson Failed to Declare Epstein-Funded Flights as MP in 2003
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
Harris Memoir Sparks Backlash from Democrats for Blunt Critiques in ‘107 Days’
Germany Weighs Excluding France from Key European Fighter Jet Programme
Cyberattack Disrupts Check-in and Boarding Systems at Major European Airports
Japan’s ‘Death-Tainted’ Homes Gain Appeal as Prices Soar in Tokyo
Massive Attack Withdraws from Spotify Over Daniel Ek’s €600M Defence-AI Investment
Björn Borg Breaks Silence: Memoir Reveals Addiction, Shame and Cancer Battle
When Extremism Hijacks Idealism: How the Baader-Meinhof Gang Emerged and Fell
Top AI Researchers Are Heading Back to China as U.S. Struggles to Keep Pace
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
Trump Orders Third Lethal Strike on Drug-Trafficking Vessel as U.S. Expands Maritime Counter-Narcotics Operations
Trump Orders $100,000 Fee on H-1B Visas and Launches ‘Gold Card’ Immigration Pathway
Why Google Search Is Fading and AI Is Taking Its Place
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Federal Judge Dismisses Trump’s Fifteen-Billion-Dollar Suit Against New York Times, Orders Refile
France’s Looming Budget Crisis and Political Fracture Raise Fears of Becoming Europe’s “Sick Man”
Three Russian MiG-31 Jets Breach Estonian Airspace in ‘Unprecedentedly Brazen’ NATO Incident
DeepSeek Claims R1 Model Trained for only $294,000, Sparking Global Debate Over China’s AI Capabilities
SoftBank Vision Fund to Cut Nearly Twenty Percent of Staff in Bold AI Strategy Shift
Intel’s Next-Gen Manufacturing Gets a Lifeline from Nvidia’s Strategic $5B Deal
Erika Kirk Elected CEO of Turning Point USA After Husband Charlie Kirk’s Assassination
Massive Strikes in France Pressure Macron and New PM on Austerity Proposals
Trump Seeks Supreme Court Permission to Remove Fed Governor Lisa Cook
Hillary Clinton’s Reckless Rhetoric Fuels Division After Charlie Kirk’s Assassination
NASDAQ Rises to Record as Intel Soars More Than 20%, Nvidia Gains 3%
Nvidia’s $5 Billion Bet on Intel Reshapes AI Hardware Landscape
Trump and Starmer Clash Over UK Recognition of Palestinian State Amid State Visit
Trump’s Quip on Biden and Google Lawsuit Revives Debate Over Antitrust Legacy
Macron and his wife to provide 'scientific photographic evidence' that she is a real woman
US Tech Giants Pledge Billions to UK AI Infrastructure Following Starmer's Call
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
DeepMind and OpenAI Achieve Gold at ‘Coding Olympics’ in AI Milestone
SEC Allows Public Companies to Block Investors from Class-Action Lawsuits
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Federal Reserve Cuts Rates by Quarter Point and Signals More to Come
Effective and Impressive Generation Z Protest: Images from the Riots in Nepal
European manufacturers against ban on polluting cars: "The industry may collapse"
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Trump: Cancel quarterly company reports and settle for reporting once every six months
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
US Launches New Pilot Program to Accelerate eVTOL Air Taxi Deployment
Christian Brueckner Released from German Prison after Serving Unrelated Sentence
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Hong Kong Industry Group Calls for HK$20 Billion Support Fund to Ease Property Market Stress
Joe Biden’s Post-Presidency Speaking Fees Face Weak Demand amid Corporate Reluctance
Charlie Kirk's murder will break the left's hateful cancel tactics
×