The futures trading platform ED & F Man Capital Markets and the exchange for institutional investors itBit carried out the EFP-transaction for the exchange of bitcoin futures for a physical asset. This is reported by CCN.
The participants of the transaction say that they realized the first EFP-transaction in the history of the crypto-currency industry through the Chicago Mercantile Exchange (CME Group).
Every day we facilitate EFPs for our clients in physical assets such as soybeans, wheat and treasuries. EFPs on CME Bitcoin futures mark an important step forward in the maturity of the regulated derivatives market for digital currencies.
ED&F Man Capital Markets Inc.
CEO itBit Paul Cevadini is convinced that such institutional solutions will help to calm the differences in the crypto-currency market.
Prior to this transaction, the US Commodity Futures Trading Commission (CFTC) only approved bitcoin-futures trades, settlements in which were conducted in a fiat currency. This type of transaction implies that after the expiration of the contract, the investor will receive only the monetary value of bitcoin, and not the cryptocurrency itself.