It’s been a while since they announced the plan to offer spot trading. I expected it to materialize by now.
Good question not sure. I think the retail platforms (Schwab, E*Trade, etc) or the next to Offer spot bitcoin trading even though there is a good argument to be made that It is really unnecessary now that there are bitcoin ETFs. Fidelity and interactive brokers already allow direct bitcoin trading.
Tom Peterrfy was getting very concerned about the massive amount of leverage he's seen lately in Bitcoin. I imagine he will have IBKR adjust the margin requirements again... hasn't been the first time.