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Interactive Brokers Rolls Out Cryptocurrency Trading For RIAs in the U.S

So, Global brokerage firm Interactive Brokers Group (Nasdaq: IBKR) announces on Monday Oct 18.

Notably “its launch of cryptocurrency trading for Registered Investment Advisors (RIAs)…”
“in the U.S., enabling these RIAs to trade and custody Bitcoin (BTC), Ethereum (ETH),..”
“Litecoin (LTC) and Bitcoin Cash (BCH) via Paxos Trust Company on behalf of clients.”

Moe so, As the announcement revealed.

Furthermore, This signifies that RIAs will be able to:

Consequently “manage their client’s positions in cryptocurrency in addition to stocks,..”
“options, futures, bonds, mutual funds and ETFs from all over the world from a single screen,…”
“and all shown on one platform with customizable reports.”

More so, Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers says during a press release,

So, “Allocating a small percentage of assets to cryptocurrency as part of a…”
“well-diversified portfolio has steadily become more commonplace,…”
“and advisors may wish to recommend cryptocurrency to their clients…

So, Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers continues,

Finally, “Adding cryptocurrency trading underscores our ongoing dedication to providing…”
“advisors with the investment products and tools they need to…”
Then, “successfully manage client portfolios and grow their businesses.“
Then, Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers continues,

So, Crypto Trading via Paxos on Interactive Brokers

Additionally, Brokers’ RIA platform’s commissions starts between 0.12% and 0.18% of the trade value.

Meanwhile, “the exact percentage depends on the monthly trading…”
Lastly, “volume and the minimum commission is $1.75 per order.”

Additionally, this platform has “no added spreads, markups, or custodial fees.”

Lastly, Interactive Brokers will kick off this service in the U.S. However, The plan is to launch it in other countries in the future.

Also, Pomp tweets,

“BREAKING: Interactive Brokers just announced they will empower Registered…”
“Investment Advisors across the United States to invest in bitcoin and cryptocurrencies.”
“This means hundreds of billions of dollars can now enter the market more easily.”
— Pomp 🌪 (@APompliano) October 18, 2021

Picture credit – Business Insider

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