Last Friday, the Commission on trade commodity futures U.S. (CFTC) reported that allow the two Chicago exchanges CME and CBOE to launch futures on bitcoin. Chicago Board options exchange CBOE has decided to get ahead of the CME and the first release of the futures. The company said that the auction will be launched on 10 December, which is 8 days earlier than CME, which announced the launch of cryptocurrency derivatives on December 18.
«Given the unprecedented interest in bitcoin, it is vital to provide investors with tools that will help them to Express their views and to hedge risks,» said ed Tilly (Ed Tilly), Chairman and CEO Cboe Global Markets.
CBOE Futures Exchange plans to launch futures trading on the bitcoin Sunday at 18:00 US Eastern time (02:00 December 11 MSK). According to the statement, tenders are to be made without commissions until the end of December.
Futures on the CBOE bitcoin will be traded under the Ticker XBT, and will be calculated on the auction price of the digital currency exchange Gemini Trust. If we talk about contracts CME, then the price will be based on the average price of four major cryptocurrency exchanges — Bitstamp, GDAX, Kraken and itBit.
The launch of futures on bitcoin, the world’s largest commodity derivatives exchanges is a significant step toward legitimizing the digital currency, which once was associated with illegal activities on Internet markets.
«The gradual introduction of futures may increase bitcoin cryptocurrency to a new class of assets», — said on Friday the global markets strategist at JPMorgan Nikolos Panigirtzoglou (Nikolaos Panigirtzoglou).
This year, bitcoin has increased more than 10-fold to levels above 11 500 USD, boosted by increased interest from institutional investors. According to CoinMarketCap, the trading volume of bitcoin in the past 24 hours amounted to 6.6 billion dollars.