Buy Bitcoin at Interactive Brokers (IBKR)
Bitcoin has not always been viewed along the same lines as traditional investment vehicles. Increased institutional adoption has changed Bitcoin’s role, however. And now, investors are looking to Bitcoin for the potential that it has become known for.
For anyone interested in taking advantage of Interactive Broker’s Bitcoin offerings, there are several different products to choose from. Here are the details to get you started.
Bitcoin ETFs at Interactive Brokers
There are many Bitcoin products to trade at Interactive Brokers and each is designed for a different purpose. Many traders like to trade Bitcoin products that behave like cryptocurrencies, and others prefer products that act like traditional asset classes.
The Bitcoin ETFs on offer at Interactive Brokers are examples of products that allow traders to take part in Bitcoin in a more traditional sense.
BTC ETFs at Interactive Brokers:
BCHG – Grayscale Bitcoin Cash Trust
GBTC – Grayscale Bitcoin Investment Trust
Other Digital Currency ETFs at Interactive Brokers:
ETHE – Grayscale Ethereum Trust
ETCG – Grayscale Ethereum Classic Trust
LTCN – Grayscale Litecoin Trust
GDLC – Grayscale Digital Large Cap Fund
Bitcoin Indices at Interactive Brokers
Indices are another way to track the valuation of Bitcoin and other cryptocurrencies. Interactive Brokers has some useful ways to keep an eye on crypto prices.
NYXBT – NYSE Bitcoin Index
GXBT – Gemini Bitcoin Price Index
Bitcoin Futures at Interactive Brokers
There are many Bitcoin Futures products available at Interactive Brokers. The main one is CME’s product (BTC), but there is a futures product for everyone.
BTC Futures at Interactive Brokers:
BTC – CME Bitcoin Futures
MBT – CME Micro Bitcoin Futures
BAKKT – ICE Bakkt Futures
BRR – CME Bitcoin Reference Rate Futures
GXBT – Gemini Bitcoin Futures
To trade digital asset futures products at Interactive Brokers, traders must first apply for the permission to do so.
Traders at Interactive Brokers who already have futures trading privileges, simply need to activate the crypto selection on their Futures settings page. The necessary permissions are activated immediately. However, traders who do not have futures permissions will need to wait for a day to gain the ability to trade.
Interactive Brokers Promotion
Open IB Account
Cryptocurrency Trading at Foreign Exchanges
It is important to remember that trading cryptocurrencies at Interactive Brokers does not have to be limited to the US markets. In fact, IBKR is a global broker that works with every major exchange around the world.
That means traders can take part in financial products related to cryptocurrencies, such as Bitcoin and Ethereum, no matter where they happen to be. Whether that means trading an index or an ETF, or possibly a cryptocurrency futures product from a foreign exchange, there are certainly plenty of options to choose from.
Some notable mentions include products like:
BTCG.UN
BTCG.U
COINETH:SS
COINETHE:SS
Cryptocurrency Trading at Interactive Brokers
The end of the 2024 summer season marks the beginning of straight cryptocurrency trading at Interactive Brokers.
That means, instead of opting for bitcoin-related products like ETFs and Futures, traders can take part in the crypto markets directly, 24/7 365 days a year.
While it is still unclear as to which digital tokens will be available for trading, it is possible to get some idea by looking at the competition. Many other stock brokers, such as Robinhood, tastyworks, and Webull, offer all the major coins as well as a few of the ‘meme’ offerings like DOGE.
Webull as an Alternative to IB
Webull is a notable alternative to Interactive Brokers when it comes to crypto trading. At Webull,
traders who opt for a cryptocurrency trading account receive an account with Gemini. That is to
say, all of the Webull’s crypto traffic filters through and settles with the popular Gemini
exchange.
For traders, that is excellent news as Gemini provides top-notch market data, secure servers, and fast transactions for all of the world’s most popular cryptocurrencies.
It also means that with one Webull account, investors have access to a fully featured stock broker and one of the best crypto brokers around. No need to switch platforms when going from traditional investing strategies to day trading cryptos.
With the $1 minimum trade amounts and no trading fees, crypto trading at Webull is also more attainable for traders of all levels – even those with $5 in their accounts!
Some of the popular digital assets found at Webull are:
- Litecoin
- Ethereum
- Ethereum Classic
- Bitcoin
- Bitcoin Cash
- Steller
- Doge
- Zcash
- Dash
Many of the other products that Interactive Brokers offer are also available at Webull, such as the indexes and ETFs. So, if you are not looking to trade crypto futures, Webull is certainly worth considering as a viable alternative to Interactive Brokers.
Webull Promotion
Open WeBull Account
|