Cboe puts the brakes on bitcoin futures By Reuters

© Reuters. Chicago Board Options Exchange Global Markets headquarters building in Chicago

© Reuters. Chicago Board Options Exchange Global Markets headquarters building in Chicago

TedsWoodworking Plans and Projects

NEW YORK (Reuters) – Cboe Global Markets said it no longer plans to offer bitcoin futures contracts as the exchange operator reassesses its plans for trading digital asset derivatives amid slumping volumes.

Currently listed Cboe XBT futures contracts, which expire in June, remain available for trading, Cboe said in a statement late on Thursday.

Cboe launched the first U.S. bitcoin contracts in December 2017, around the time the underlying cryptocurrency hit an all-time high near $20,000. CME Group Inc (NASDAQ:) followed shortly after with its own product, which it still lists.

The contracts were aimed at making it easier for investors and speculators to trade the new asset class. Building liquidity in the underlying product was also seen as a crucial step to gaining approval for a bitcoin exchange-traded fund.

However, interest in Cboe’s bitcoin futures contract has waned along with a crash in the price of bitcoin. The cryptocurrency is currently at around $3,855.

Chicago-based Cboe declined further comment.

The exchange currently has an application with the Commodities Futures Trading Commission to list a bitcoin ETF.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here