Cboe caves to CME on bitcoin futures

Bitcoin

Cboe caves to CME on bitcoin futures

"CFE is not adding a Cboe Bitcoin (USD) ("XBT") futures contract for trading in March 2019". - CFE analyzes its own approach in the context of how it will provide the opportunity to trade derivatives of digital assets.

However, Cboe said now listed bitcoin futures contracts will remain available for trading. Given the fact that CME's Bitcoin futures one of the most reputed and sought after crypto trading instrument, the terminating of its services, should normally have resulted in major crypto coins bleeding profusely. Most people who now remain invested in CBOE are likely to be traders with large portfolios who are waiting out bearish influence for next leg of the upside move.

The exchange won't list new contracts in March.

In December 2017, when the two aforementioned exchanges announced their intention to launch derivative contracts tied to the top cryptocurrency, the crypto-market boomed.

Cboe caves to CME on bitcoin futures

CBOE is reportedly putting on "hold" its Bitcoin Futures market.

Some were concerned that the price of Bitcoin may be negatively affected. Bitcoin gained against the United States dollar by 0.5 percent, and was trading at over $3,900, with the coin-market holding firm at $135 billion.

Some have compared CBOE's contract volumes to that of CME's, the world's largest futures exchange, which had similarly listed Bitcoin futures contracts a few days later.

However, throughout 2018, the U.S. Securities and Exchange Commission (SEC) has rejected or delayed several Bitcoin ETF proposals from a variety of investment firms, leading many to wonder whether the SEC is simply playing hardball or is genuinely unsatisfied with current proposals. These futures, labeled XBTM19, are set to expire in June of this year - meaning that the CBOE has got plenty of time to add a new CBOE Bitcoin futures contract before that.

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