Conducting the first futures contracts for bitcoins coincided with the fall in the exchange rate

In December 2017, the Chicago Stock Options Exchange (CBOE) began trading bitcoin futures (XBT). On January 18, the first contracts (more than 120 thousand) of F8 were sold at the price of $ 11,055. The total...

In December 2017, the Chicago Stock Options Exchange (CBOE) began trading bitcoin futures (XBT). On January 18, the first contracts (more than 120 thousand) of F8 were sold at the price of $ 11,055. The total value of contracts amounted to more than $ 1.5 billion. It is noteworthy that on the same day the price of bitcoin fell below $ 9,500.

CEO Ed Tilly noted that the exchange worked as planned. Smooth operating work should convince  existing customers in the reliability of bitcoin futures and attract new ones. Also, the beginning of futures trading can become a good sign for traditional large investors, who have not yet come to the cryptocurrency market.

G8 contracts expire in a month and their price is $ 11,220.

The appearance of bitcoin futures at the end of last year caused a lot of excitement: the price rose by 25% in just a few hours, which caused the stock exchange to stop trading twice. Also, the total volume of trade in cryptocurrencies has sharply increased, which caused a delay in confirming 200,000 transactions for more than 24 hours.

CBOE can add futures for other currencies as well. Ed Tilly told reporters that the exchange can develop a cryptocurrency product similar to an ETF if it does not cause the regulators to react negatively.