Economy

CME Group CEO Reveals Date For Mainstream Bitcoin Derivatives

CME Group CEO Reveals Date For Mainstream Bitcoin Derivatives”

Previously, the exchange operator had provided a vaguer timeline, stating that it hoped to list them during the fourth quarter, pending regulatory approval, so many analysts doubted they would actually launch before the end of the year. Then inevitably will arrive Bitcoin ETFs.Cboe Global Markets Inc. president Chris Concannon has already said Cboe's working on bringing. "But what I want to do is give it a place for other people to lay out that risk".

"With regulated futures of a certain asset class like a bitcoin, you do have an opportunity to introduce ETFs and over time we do envision ETFs coming to market."
You either buy it or sell it to somebody else. The digital currency then almost recovered all those losses to hit a high of $6,770.37 Monday, before trading near $6,360. "So you create a two-sided market, I think it's always much more efficient".

Current CME price limits for bitcoin may be no match for its volatility - the price was $7.8K late last week, fell to about $5.4K at one point over the weekend, and now sits at $6,497.

"Listen, when someone says to me, 'the price is going to zero, what are you going to do?' I'm not going to let it go to zero", he explained.

Duffy said Monday the CME's system of "velocity logic functionality" might halt the bitcoin market for an hour if the digital currency is too volatile.

Man Group, a UK-based investment management firm, said it would include bitcoin in its "investment universe" if bitcoin futures successfully launch. This, he said, will attract more institutional investors.

According to Leo Melamed, the chairman of CME Group, with the launch of bitcoin futures, trading in cryptocurrency will no longer be merely speculative, as it will enable investors short-sell bitcoins thereby making two-way bets possible. What was once a fringe item has become a globally-traded digital asset.



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