Company Of The Day: Citigroup

+25.56%
Upside
48.29
Market
60.63
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?

Relevant Articles
  1. Is Citigroup Stock Fairly Priced?
  2. Is Citigroup Stock Attractive At The Current Levels?
  3. With Recession Fears Mounting, How Is Our Inflation Theme Doing?
  4. These Stocks Fared Well As Inflation Roiled Markets. Will The Outperformance Continue?
  5. With Inflation Likely To Ease, Should You Sell These Stocks?
  6. This Theme Has Soared Despite Rising Inflation. Is It Still A Buy?

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

What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market since 2016

See all Trefis Price Estimates and Download Trefis Data here

What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams