Bitcoin Futures Contracts
Large US Financial Exchange Forgoes Bitcoin Futures
FINANCE
3 hours ago | Sterlin Lujan | 7593 | 5
Large US Financial Exchange Forgoes Bitcoin Futures
Atlant
Last year, legacy exchange CME group provided a bitcoin price index with the intent of adding bitcoin futures. However, they decided not to follow through with those plans.
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Bryan Durkin, who heads Chicago-based CME, told Bloomberg they were not going to list bitcoin futures. He mentioned the technology is nascent, and that digitization technology is on their radar. He further stated, “I really don’t see us going forward with a futures contract in the very near future.” However, some investors want exposure to bitcoin. There is a market for indirect exposure via futures contracts.
Bitcoin Futures Contracts
Large US Financial Exchange Forgoes Bitcoin Futures
Though CME will not provide futures pairings to its clients, some of their competitors are entering the futures markets. Chicago, CBOE Holdings Inc., is slated to add futures contracting for bitcoin to their platform. They plan on implementing futures contracts in the fourth quarter of next year, according to the Bloomberg article. CBOE formed an alliance with the Winklevoss venture Gemini Trust Co in order to bring clients these bitcoin future options.
Outside of the United States, other companies have tried their hands at offering bitcoin futures. Straits, a Singapore based company, introduced futures trading last year. Straits partnered with Bitpay to make the transition seamless. Jamie Redman, writing for news.Bitcoin.com, covered this story
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