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CBOE Bitcoin futures listing is postponed

Maya Mandz | Mar. 15, 2019
CBOE Bitcoin futures listing is postponed

March 15, 2019, | AtoZ Markets - The Chicago Stock Exchange (CBOE) Futures Exchange (CFE), in a press release on March 14, said it would not add a bitcoin futures contract for March. Do the Bitcoin futures still have future?

CBOE bitcoin futures are still under consideration

According to the report, the largest stock options exchange in the United States is still working on approaches to trading digital assets. CFE added in its statement:

"While CFE is considering its next steps, it currently does not intend to list additional XBT futures contracts for trading."

The current CBOE bitcoin futures remain available for trading. XBTM19 futures quotes expire in June. XBTJ19, which closes next month, has an estimated price of $ 3,847. These stocks can win bears since the last closing price shown on the page was $ 3,850.

According to the experts, bitcoin still has a few weeks to go up, and people like Tom Lee think that this process will start in August.

CBOE bitcoin futures in brief

Futures contracts provide investors with access to the underlying asset - for example, Bitcoin - without the need to own it. In this case, investors buy contracts that track the underlying price of the asset and wonder if the contract price will increase or decrease by the expiry date. In the bitcoin futures market, the CBOE bitcoin futures difference is calculated in US dollars. Two years ago, CBOE began trading in bitcoin futures, and then its competitor, the Chicago Board of Trade (CME).

Highly anticipated Bitcoin-ETF approval is considered by some experts as a financial failure of recent years. It remains unclear when Bitcoin ETF will receive the green light from the local financial regulators. The SEC continues to delay this moment, remaining silent about its final decision.

CBOE about bitcoin trading volumes

Since the beginning of 2018, bitcoin trade has declined by more than 80%, since CBOE XBT products do not generate more than $ 1 billion in conditional trade volume since May 2018. The CBOE product has consistently generated less than half of the volume that the CME Group bitcoin futures generated.

Futures on Bitcoin CME, in its turn, traded more than 18,300 contracts, which is equivalent to ~ 91,690 BTC or ~ 360 million of notional value. The volume was 25% more than the previous daily volume record set in November. Trends are also growing not only in the form of a daily one-time volume, since volumes from 1Q19 to February work with a 40% annual increase and are included  the track will be the largest quarterly bitcoin futures CME since the launch of the product at the end of 2017

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.