Navigation

Cboe wins race to launch bitcoin futures contract

Reuters Cboe Global Markets Inc. will launch its bitcoin futures contract on Dec. 10, just over a week ahead of rival CME Group Inc., as the exchange operator takes the next step toward launching an exchange-traded fund based on the digital currency.

Bitcoin’s price has soared tenfold this year, prompting many market participants to warn of a bubble as it topped $11,000 for the first time last week.

Bitcoin futures and other derivatives would make it easier for more investors and speculators to trade the new asset class.

Cboe’s bitcoin futures contract will trade under the ticker symbol “XBT” and will be cash-settled based on the auction price from cryptocurrency exchange Gemini, Cboe said on Monday.

CME’s bitcoin futures contract launches Dec. 18, available for trading on the CME Globex electronic trading platform, the world’s biggest derivatives exchange said on Friday.

Cboe and CME were given approval from the Commodity Futures Trading Commission to list bitcoin futures on Friday after the rival bourses were able to show that their proposals met the necessary regulatory requirements.Speech

Click to play

0:00/-:--

+ -

Generating speech. Please wait...

Become a Premium Member to use this service.

Become a Premium Member to use this service.

Offline error: please try again.