Cboe Files for Bitcoin Futures
Exchange operator Cboe Global Markets has taken the first step to launch its planned bitcoin futures contracts by filing the necessary paperwork with the Commodity Futures Trading Commission (CFTC) to offer bitcoin futures trading.The product certification is subject to regulatory review.
The impending launch date of Cboe bitcoin futures, which will trade on CFE under the ticker symbol ‘XBT,’ will be announced shortly, according to Cboe officials.
The XBT futures were made available for participant testing on November 13, 2017. Existing CFE Trading Privilege Holders (TPHs) can trade XBT futures via their existing connections. XBT futures market data will be made available over Cboe’s market data feeds.
The Bitcoin ETN futures are based on ETC Group’s physical Bitcoin ETN.
Gensler suggests Bitcoin ETF filings limited to CME-traded futures would be welcomed by SEC.
It is hoped that BNY Mellon will provide transfer agency and ETF services when the fund converts to an ETF.
Increase in institutional demand highlights growing legitimation of bitcoin.
There has been more institutional volume than anticipated.