Cboe Launches Bitcoin Futures Earlier …
Cboe Launches Bitcoin Futures Before CME
Cboe Global Markets has announced the launch date for Bitcoin futures on its own CFE futures platform. The new financial instrument will be presented on Sunday, December 10.
Monday, December 11, will be the first full trading day. Commission will not be charged until the end of December.
Thus, the Chicago Board Options Exchange (Cboe) will bypass the Chicago Mercantile Exchange (CME), on which the launch of futures should take place on Monday, December 18.
Last week, the US Commodity Futures Trading Commission (CFTC) announced that it is approving the launch of futures on the aforementioned exchanges, as well as on the Cantor Fitzgerald platform. Cantor Fitzgerald announced they are going to launch futures next year.
As such, the exchanges did not require CFTC approval. Rather, the regulator acted as a subsidiary body pointing out possible shortcomings in the upcoming financial products.
Cboe Futures will be released on the CFE platform under the ticker “XBT”. They will be settled in fiat, and the Gemini auction price denominated in US dollars will be used as the data source..
Tyler Winklevoss, one of the Gemini founding brothers, recently recognized as the first Bitcoin billionaires, said: “Developing a regulated derivatives market is the next logical and key step towards creating a broader digital asset market. We have been working on the development of this infrastructure for many years, and today’s news is the next significant step in this story “.
Cboe notes that over the past 5 years, the capitalization of bitcoin has risen from less than $ 1 billion to $ 183 billion, and the daily turnover in its market exceeds $ 10 billion.The total value of all cryptocurrency assets has reached $ 332 billion..
The exchange expects that along with the launch of new futures, these values will rise even more. This is primarily due to the inflow of capital from investment funds that previously did not have the opportunity to trade cryptocurrencies on regulated platforms..
“Given the unprecedented interest in Bitcoin, we see it as our key goal to provide our clients with trading tools that will allow them to express their opinions and hedge price risks,” said Ed Tilly, CEO of Cboe Global Markets..
Photo: Rudy Balasko
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