Share this article
TD Ameritrade: Bitcoin 'Great Opportunity' to Get Millennials Trading
Investment services firm TD Ameritrade sees cryptocurrencies as the "greatest opportunity" to get millennials to trade, says its chief strategist.
Updated Sep 13, 2021, 7:21 a.m. Published Jan 9, 2018, 11:00 a.m. 1 min read
Investment service firm TD Ameritrade sees cryptocurrencies like bitcoin as a great way to attract millennials to trading.
Speaking to CNBC on Monday, the company's chief market strategist JJ Kinahan said that the cryptocurrency market is providing a chance to bring in people who were traditionally not interested in trading.
Kinahan said:
"People complain that we haven't gotten millennials to trade. Maybe this isn't the product I'd like people to start with, but this is the greatest opportunity."
Kinahan also noted that millennials often say they need to utilize 90 percent of their money to speculate, while the company usually advises its clients to use 10 percent.
"Do I agree with that? Not necessarily, but for us to say 'you're wrong' is silly," he said.
The comments follow TD Ameritrade's announcement last month that it is offering clients access to CBOE's bitcoin futures contracts, which launched on Dec. 10.
TD Ameritrade image via Shutterstock
More For You
From May 20 to May 29, XRP funds took in $35 million while bitcoin and ether ETFs lost roughly $2 billion combined, with Ripple’s earlier reported XRP treasury plan still awaiting confirmation.
What to know:
- U.S.-listed spot XRP ETFs drew $11.88 million in net inflows on May 29, extending a week of gains even as bitcoin and ether funds saw continued redemptions.
- Total net assets in U.S. XRP ETFs now stand near $1.12 billion, with about $35 million added since May 20 while bitcoin and...
Top Stories
