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CBOE to launch bitcoin futures next week

December 4, 2017 4:50 PM
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CBOE to launch bitcoin futures next week

Mubasher: Chicago Board Options Exchange (CBOE) Global Markets said on Monday that it will start trading bitcoin futures on 10 December, after getting the green light last week from regulators.

The US Commodity Futures Trading Commission said on Friday it would allow two major exchanges to launch bitcoin futures.

Nasdaq is also planning to launch bitcoin futures as early as the second quarter of 2018.

Such moves are expected to give the virtual currency more legitimacy among professional investors.

The introduction of futures from both Cboe and CME may entice more professional traders and investors to join the cryptocurrency market by shifting transactions onto regulated exchanges, according to Bloomberg.

The recent surges in bitcoin prices are mainly attributed to more traditional investors entering its market, as they are afraid to miss out on achieving such high profits in a very short period of time.

Bitcoin saw a series of fluctuations last week, after passing $10,000 on Tuesday, it surpassed the level of $11,000 on Wednesday, before later retreating to near $9,000.

The appeal of bitcoin is increasing despite several warnings from central banks and experts of an asset bubble, as the digital currency is still rarely used to purchase actual goods or services, making it almost entirely a vehicle for speculation.


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