Investor interest in Bitcoin and cryptocurrencies has led many brokerage firms to this field.
Interactive Brokers Group, a global brokerage firm and listed on Nasdaq an announcement made today announced that it is making it easier for US-registered investment advisors to trade cryptocurrencies on behalf of their clients.
In the statement, it was stated that investment advisors affiliated with them can trade Bitcoin, Ethereum, Litecoin and Bitcoin Cash through their trading platforms.
The company announced its support for cryptocurrency trading after partnering with a blockchain company called Paxos.
Steve Sanders, vice president of marketing and product development at Interactive Brokers Group, stated that the importance of diversified portfolios with cryptocurrencies is increasing.
“It has become increasingly common to allocate a small percentage of assets to cryptocurrency as part of a well-diversified portfolio, and advisors may want to recommend cryptocurrency to their clients. Adding cryptocurrency trading is a testament to our commitment to providing advisors with the investment products and tools they need to successfully manage their client portfolio and grow their business.”
It was also stated that the crypto currency trading commissions on the platform are quite low compared to their counterparts.
More investment advisors have easy access to cryptocurrency trading, meaning more investors are turning to this space.