Cboe Launches Bitcoin Futures Trading

Bitcoin’s value went up three percent after the opening of Cboe’s futures market. Lately, the bitcoin market drew everyone’s attention due to its amazing speed towards record highs. Initially, bitcoin’s value went up to about $17.000, but it rapidly went down to $13.000. However, on December 10, bitcoin’s value was at around $15.300.

Cboe opened its contract bids at the starting price of $15.000

A new era started these days. The first bitcoin futures contract has been listed on the Chicago Board Options Exchange (Cboe). When the trading began, investors were able to bet on or against bitcoin. The good thing about it was that investors were able to bet without actually buying or selling bitcoin.

The contract listing is one of several premiers that happened on the cryptocurrency market. Another important event is going to be launched next week. We are talking about the bitcoin futures contracts from CME Group.

Another important thing that could happen on the cryptocurrency market is the development of a bitcoin exchange-traded fund (ETF). Cboe’s chief executive officer, Edward Tilly, declared:

“One of those potential next steps would be moving into ETFs and ETNs that would take SEC approval.”

Edward Tilly’s talk about a bitcoin ETF is very interesting and important for a couple of reasons. The first reason is money. This year, global ETF assets managed to reach $5.3 trillion. The second reason and the most important one is the nascent crypto asset industry. Earlier this year, the SEC rejected a proposed ETF by Gemini. But, a Cboe subsidiary managed to convince the SEC to reconsider its decision.

Tilly also declared that:

“This isn’t the end, but rather the beginning of the story of our relationship with Gemini. We hold that relationship very dear.”