Company Of The Day: Citigroup

+63.64%
Upside
47.86
Market
78.32
Trefis
C: Citigroup logo
C
Citigroup

What?

Banking behemoth Citigroup (NYSE:C)  is awaiting regulatory approval to start trading bitcoin futures on the Chicago Mercantile Exchange, per a report from Coindesk.

Why?

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Bitcoin and other cryptocurrencies are seeing increasing interest from institutional investors and Citi is looking to cash in on this.

So What?

Citi isn’t the first big bank to get into bitcoin futures trading. In June, Goldman Sachs began trading bitcoin futures. However, Citi investors seem to like the move, as the stock rose 1.6% in Tuesday’s trading.

See Our Complete Analysis For Citigroup

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