Cboe plans December 10 launch of Bitcoin futures trading

Lucy Hill
December 5, 2017

On December 1, 2017, the Chicago Mercantile Exchange and CBOE Futures Exchange took the necessary regulatory steps to begin trading new bitcoin futures contracts this month. The news comes after CME group announced last week that it would launch bitcoin futures on december 18.

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Naeem Aslam, Think Markets analyst, said that the reports Britain wants to hike regulation of bitcoin and other digital currencies. CBOE has already expressed its desire to list these products, and - just this week - The Wall Street Journal reported Nasdaq Inc. hopes to list bitcoin futures on one of its USA exchanges during the first half of 2018. At 19:54 UTC on Monday, bitcoin was trading at $11,237.19, unchanged in the last 24 hours.

CME's bitcoin futures will be based on a "Bitcoin Reference Rate", which will be a "a once-a-day reference rate" based on the US-dollar price of the coins. Cboe will waive trading fees for these products for the duration of December. "We have been working for years to build infrastructure to grow the digital asset market and today's news marks a significant milestone", said Tyler Winklevoss, CEO of Gemini.

Cboe announces bitcoin futures to start trading Sunday

According to the official release, CME Group has self-certified the initial listing of its Bitcoin futures contract, which will be listed on and subject to the rules of CME. Of course, this requires the approval of the regulators, which is likely to be a big challenge, but this also throws open the doors for the launch of bitcoin futures in other major exchanges which is likely to help the bitcoin market to continue to mature in a quick manner.

Last week, a JPMorgan global markets strategist forecast that the introduction of bitcoin futures would legitimize cryptocurrency in the eyes of both institutional and retail investors, transforming the cryptocurrencies into "an emerging asset class".

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