A limited number of persons in the United States would be able to invest in digital assets the same way investors trade conventional stocks as the US FTX floats digital asset stocks. The organization is reportedly releasing the offering via the FTX Capital Markets, which has the potential to draw the interest of the cryptocurrency community and traditional investors.
The reports of the new development came via an official announcement from the US FTX, where it announced that only a select category of US account holders would initially be able to invest in the stocks. However, the report also included that all account holders in the nation would access the digital asset offerings and have the chance to trade in hundreds of American exchange-traded offerings later this year.
Moreover, the new digital platform would take all investor requests via the NASDAQ channel towards promoting transparency in the execution and pricing of its transactions. Users on the new platform would also trade the FTX Stocks without any transaction commissions.
However, FTX US says it would receive settlements when account holders want to buy shares in the dollar-pegged stablecoins, like the USDC. The organization’s most recent expansion displays its intentions to not only draw interest from the nation’s digital asset sector.
Regardless of the regulatory supervision, FTX also seems interested in ensuring that traditional investors also have a means of partaking in crypto investments. According to the President of FTX US, Brett Harrison, the organization intends to offer all investment opportunities available on the planet to investors.
US FTX Increases Its Reach
The increasing reach of the US FTX in offering digital asset shares comes a few days after the company’s CEO reportedly purchased about 7.6% of Robinhood, a digital asset marketplace. The Chief Executive Officer asserted that he doesn’t intend to influence Robinhood’s significant decisions by buying a stake in the trading platform. However, he said that the purchase was instead only an investment.
The FTX US also formally requested the Commodities Futures Trading Commission (CFTC) to adjust its current digital assets derivatives model. The request demanded that the CFTC modify its system and allow it (the FTX US) to mediate between financial services providers of digital assets derivatives to investors.
The US FTX’s request is reportedly undergoing review for approval by the CFTC. The CFTC is a US financial regulatory agency whose regulatory jurisdiction intersects with the digital assets industry.
Meanwhile, the new chairman of the CFTC, Rosin Benham, recently asserted that his organization wouldn’t be more short-handed in its dealings with digital assets exchanges than other US regulators. The chairman reportedly said that to debunk information from some quarters that it would treat digital assets agencies better than other stricter US regulators, like the Securities and Exchange Commission (SEC).
Some stakeholders in the cryptocurrency industry reportedly want the CFTC to supervise the digital assets sector. There are reports that the CFTC has been more open to conversations and negotiations with digital assets services companies in the nation compared to others, possibly inciting Benham’s comments