Bitcoin exchange itBit seeks to add Ether support

Investing | July 1, 2016 By:

ItBit announced it is considering whether to add support for ether to its platform.

CEO Charles Cascarilla reported that itBit doesn’t currently deal in ether via its exchange or over-the-counter trading offerings. However, he suggested this could change following moves from competitors Coinbase and Gemini, both of which recently added support for ether.

“Clearly Ethereum is trying to create more functionality and there are benefits and risks to doing that. [But] we’ve been looking at it,” said Cascarilla.

Cascarilla also mentioned the possible risk following the hack of Ethereum-based fund, The DAO. However, he noted that the failure of the fund does not ‘diminish’ the worth of Ethereum and its cryptocurrency.

itBit is a New York-based bitcoin exchange.