CME Bitcoin Futures Launched

Unlike the 19% surge of CBOE futures a week ago —  the CME futures fell 4% to $18,760 about four hours after opening
18 December 2017   1666

The CME Group, the world's largest futures exchange, opened up bitcoin futures for trading at 6 p.m. EST on Sunday under the ticker "BTC". The reference price, from which price limits are set, is $19,600 for the February contract, $19,700 for March and $19,900 for June.

Unlike the 19% surge in CBOE bitcoin futures during their first day of trading a week ago —   the CME futures fell 4% to $18,760 about four hours after opening at $20,650 and rising slightly. Volume on CME was recently at 590 contracts, while on its debut on December 10, the Cboe traded nearly 4,000 contracts during the full session.

A key difference between the Cboe and CME futures is that the Cboe contract represents one bitcoin, while a CME contract represents five bitcoins. The Cboe also settles its futures against a daily price auction from Gemini, while the CME uses its own bitcoin reference rate which tracks several cryptocurrency exchanges.

BTC charts 18 12 17Bitcoin Charts

At the moment of press, these are main market parameters of Bitcoin:

  • Average price: $18 949,70
  • Marketcap: $317 389 226 439 USD
  • 24h volume: $12 980 400 000 USD

Some investors believe the CME bitcoin futures could attract more institutional demand because the final settlement price is culled from multiple exchanges.

Recently, we have reported about the upcoming bitcoin futures, stressing the most important information about the derivatives.

Bakkt to Unveil Bitcoin Futures Test Date

Along with date announcement, COO Bakkt believes the platform will attract institutional investors and set new standards for the cryptocurrency market
14 June 2019   249

The Bakkt cryptocurrency platform has named the exact start date for testing Bitcoin futures. The first users will be allowed to test the tool on July 22.

According to Bakkt's Operations Director, Adam White, the platform will attract institutional investors and set new standards for the cryptocurrency market.

White pointed out that the wider distribution of cryptocurrencies, in particular, is hampered by unreliable pricing mechanisms and the likelihood of instantly falling rates.

Along with these problem-solving solutions that are new to digital asset markets, Bakkt also brings all the other features that institutions would expect in a versatile and broadly accessible market, including: block trades; a fee holiday through the end of the year to encourage trading; market maker incentive programs to encourage liquid markets; and integrations with ISVs and regulated brokerage platforms.
 

Adam White

COO, Bakkt

At Bakkt, two futures contracts will be presented - with daily and monthly settlements. Risk management and the securing mechanism for these contracts will meet the standards of the traditional derivatives market.