Bitcoin Futures Surge In First Day Of Trading

Ivan Schwartz
December 13, 2017

The Cboe's competitor exchange, the Chicago Mercantile Exchange, will start trading its own futures on December 18. However, it was not the case when Bitcoin futures were introduced in the US' CBOE exchange. While the CBOE officials were sorting out the issue, Bitcoin comfortably traded above the $15,000 level in the crypto currency exchanges.

The virtual currency bitcoin is now trading on a major global exchange for the first time.

You can pin that down to the volatile nature of Bitcoin itself, which promotes an even bigger arbitrage premium/discount - but surely at some point you'll have to draw the line and say this is too big of a gap not to act on. However, the sudden influx of traffic caused the servers to slow down and display 404 errors.

Gemini Exchange is owned by the twins Cameron and Tyler Winklevoss.

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The rally follows a widespread sell-off in the same equities in the run-up to bitcoin's futures debut. Trading was so heavy that automatic halts were triggered to cool off volatility.

To make Bitcoin futures a success, CBOE is offering commission free trading for one month. Though Bitcoin future contracts and trading on an exchange are risky.

The Exchange Traded Fund (ETF) sector is ready and waiting for cryptocurrency futures set to be traded on the CBOE Global Markets exchange this week. Now there's only a couple thousand contracts traded, and that's not a very good sample size to consider when the market could potentially be massive. As futures become available on the market, funds will be able to actively trade options which are based on the underlying cryptocurrencies.

Other reports by GizPress

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