Bitcoin Futures Are Coming

All you need to know about upcoming bitcoin futures
08 December 2017   3149

The end of the year marked the arrival of bitcoin futures contracts. Since CME Group and the CBOE announced their bitcoin futures contracts launch - the world awaits for the new wave of Bitcoin adoption.

In this article you can find the most important information about upcoming bitcoin futures.

1. CBOE Futures

Sales date: December 10, 2017

Contract unit: The Cboe Bitcoin Futures Contract will use the ticker XBT and will equal one bitcoin.

Trading hours: Cboe’s XBT contract will trade on CFE, with regular trading hours of 9:30 a.m. to 4:15 p.m. Eastern time on Mondays and 9:30 a.m. to 4:15 p.m Tuesday through Friday. Extended hours will be 6 p.m. Sunday to 9:30 a.m. Monday, and 4:30 p.m. Monday through to 9:30 a.m. Friday.

Margin rate and clearing: Cboe’s contract will clear through the Options Clearing Corporation and a 30% margin rate will apply.

Contract expirations: Cboe said it may list up to four weekly contracts, three near-term serial months, and three months on the March quarterly cycle.
Price limits and trading halts: Cboe will halt trading in its contract for 2 minutes if the best bid in the XBT futures contract closest to expiration is 10 percent or more above or below the daily settlement price of that contract on the prior business day.

2. CME Futures

Sales date: December 17, 2017

Trading hours: CME’s BTC will trade on CME Globex and CME ClearPort Sunday to Friday from 6 p.m. - 5 p.m. Eastern time with a one-hour break each day beginning at 5 p.m.
Contract unit: The CME Bitcoin Futures Contract will use the ticker BTC and will equal five bitcoins.

Margin rate and clearing: CME’s contract will clear through CME ClearPort and will have a 35% initial margin rate.

Contract expirations: CME said it will list monthly contracts for the nearest two months in the March quarterly cycle (March, June, Sept., Dec.) plus the nearest two serial months not in the March quarterly cycle.

Price limits and trading halts: CME will apply price limits, also known as circuit breakers, to its bitcoin futures of 7%, 13%, and 20% to the futures fixing price. Trading will not be allowed outside of the 20% price limit.

3. NASDAQ Futures

Sales date: the first half of 2018

Nasdaq futures will trade on its NFX market.

It is stated that the Nasdaq futures product will be based on an index that takes in prices from more than 50 bitcoin exchanges.

4. Tokyo Financial Exchange Futures

Tokyo Financial Exchange plans to create a working group to study cryptocurrencies in January.

Once the Financial Instruments and Exchange Act recognizes cryptocurrencies as financial products, we will list the futures as quickly as possible. To achieve that, we will launch this working group to study various aspects, including bitcoin’s present status, its outlook, and what form it will take root in Japan’s society.


Shozo Ohta

CEO, Tokyo Financial Exchange

Goldman Sachs to clear bitcoin futures

Goldman Sachs plans to clear bitcoin futures contracts for certain clients when the derivatives go live in coming days, a spokeswoman for the bank said on Thursday.

Given that this is a new product, as expected we are evaluating the specifications and risk attributes for the bitcoin futures contracts as part of our standard due diligence process.


Tiffany Galvin

The Goldman Sachs spokeswoman

Meanwhile, the Korean regulator does not recognize bitcoin as ‘an underlying asset of derivatives products’ and is hence restricted from being listed as a financial instrument for futures trading.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   87

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.