Intercontinental Exchange unit to launch Bitcoin futures

NYSE Arca, a unit of Intercontinental Exchange, has filed with the SEC to be allowed to launch two funds traded on the exchange connected with Bitcoin futures
20 December 2017   1381

The first all-electronic exchange in the USA, NYSE Arca is owned by Intercontinental Exchange and currently trades more than 8,000 exchange-listed securities. On December 19 the records were published, stating that the Exchange proposes to list and trade the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF under NYSE Arca Rule.

It was stated that the value of the Bitcoin Futures Contracts will be based on the expected value of Bitcoin at a future point in time, specifically, the expiration date of such Bitcoin Futures Contracts. By being long Bitcoin Futures Contracts, the Fund seeks to benefit from daily increases in the price of the Bitcoin Futures Contracts. 

According to the Registration Statement, the investment objective of the Fund is to seek results (before fees and expenses) that, both for a single day and over time, correspond to the performance of lead month Bitcoin futures contracts listed and traded on either Cboe or CME.
 

Notice of Filing of Proposed Rule Change to List and Trade the Shares

Previously, we have reported that The CME Group and Cboe exchange have successfully opened Bitcoin futures trading.

Binance to Launch BTC-Pegged Own Chain Based Token

In this way exchange wants to transfer crypto based on own blockchains to its ecosystem and  increase liquidity and trading volumes at Binance DEX
17 June 2019   158

In the coming days, Binance Exchange will launch a series of BEP2-tokens, tied to different cryptocurrency rates, on its own Binance Chain blockchain. The first token of this type will be BTCB - its rate is tied to Bitcoin.

BTCB is backed with bitcoins located in Binance reserves. The address for storing bitcoins has already been made publicly available, so that users can verify that the token has the necessary support.

In the future, the BTCB / BTC trading pair will be launched on Binance.com. With its help, users will be able to convert the original cryptocurrency into the Binance Chain token. The price spread in this case will be about 0.1%.

According to Binance, in this way it can transfer cryptocurrencies based on its own blockchains to its ecosystem and currently not represented in the Binance Chain. The company expects the launch of new tools to increase liquidity and trading volumes at Binance DEX.

While this approach is more centralized than atomic swaps, we believe it provides a higher degree of ease-of-use to most traders. And most traders are already trusting Binance.com to hold their funds anyway.
 

Binance Team

To date, Binance has independently reserved 9,001 BTC and released 9,001 BTCB. The BTCB / BTC trading pair on Binance.com will tentatively appear within a day, and an asset will be added to Binance DEX after approval of the relevant offer.