ADVERTISEMENT

[email protected]

  • Submit Press Release
  • Submit Guest Post
  • Write for Kryptomoney.com
Latest Crypto News
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
Latest Crypto News
No Result
View All Result
Home News

Global Crypto Maniacs Rejoice As CME Launches Bitcoin Futures 

KryptoMoney by KryptoMoney
December 18, 2017
in News
0
latest bitcoin news | cme bitcoin futures trading | trading of bitcoin futures on cme | cboe and cme bitcoin futures
0
SHARES
27
VIEWS
Share on FacebookShare on Twitter

As you casually proceeded with your morning activities, Bitcoin futures got launched at Chicago Mercantile Exchange (CME), the world’s biggest trading platform with a bullish stance. The 18th January contracts opened with a sale price of more than $20,000. This event occurred months after the announcement made by this Chicago-based derivative exchange operator to come ahead with  Bitcoin future trading which started off at 6 p.m. CST. The opening price of the January contract at that time was $20,650, which was $1,150 more than the last price of $19500 on CME’s reference rate. CME has revealed that during first hour of trading, about 200 contracts were purchased. The website of the operator also revealed that one February 2018 and one March 2018 contracts were sold apart from two other contracts having an expiry date of June.

The contracts have been trading at premium rates against the Bitcoin price since the very onset. As per Bitcoin Price Index, these contracts were priced at $19400 when futures were launched by CME. The last week has been one crazy ride for the institutional investors of Bitcoins starting with the launch of Bitcoin futures by CBOE and very recently by CME.

Following the footsteps of these two Chicago based future exchanges, Wall Street’s Cantor Fitzgerald and Nasdaq have also announced the launch of their Bitcoin related products in the coming fiscal. Amidst all these, the fatigue shown by CME’s product launch cannot be overlooked.  With CME being a bigger player, traders were expectant of it creating a bigger splash in crypto sphere. However, the reality was a far cry as the website of CME remained stable and did not suffer from surging traffic which was experienced when Bitcoin futures were launched for the first time by rival CBOE causing its website to become inaccessible for a temporary span of time. Bitcoin even saw a sell-off over the first trading hour with the price falling down to $18424.

But the efficient pricing model of CME helped it in getting a faster start with its most-active contract changing hands for 221 times in first trading hour compared to CBOE’s debut with 570 first hour contracts. Irrespective of the numbers, it denotes a win for CME as its contracts are five times more valuable in comparison to CBOE. The first day of CBOE trading paved the way for its futures being priced at 13% above Bitcoin hinting at inefficient trading whereas CME futures were priced 2% above Bitcoin.

Also Read: Difference between CBOE & CME Bitcoin Futures Contracts

Gabor Gurbacs, the director of digital-asset strategy at VanEck Associates Corp pointed out that,

“One of the biggest issues when it comes to investing institutionally in digital assets is banks and larger institutions can’t hold an unregulated instrument in their balance sheet, and a futures contract is something they can hold.”

He added that, with futures, “you don’t hold the physical bitcoin, which solves custody issues and counterparty risks with these less-regulated exchanges.”

For safeguarding investors against wild price swings, trading will be briefly paused by CME if the price of the contracts fluctuates by more than 7-13%.

Also Read: Bitcoin Futures Can Add Legitimacy To Potential ‘Emerging Asset Class’- Says A JP Morgan Strategist

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology , Cryptocurrencies and upcoming ICO’s.

Subscribe to our newsletters and join our Telegram Channel to stay updated.

<div class=”fb-comments” data-href=”https://kryptomoney.com” data-numposts=”5″></div>

Tags: Bitcoin FuturesBitcoin Futures ContractBitcoin NewsCBOECMENASDAQWall Street
Previous Post

Investors In Japan Are Slowly Switching Over to Bitcoin From Traditional FX Trading

Next Post

ASSOCHAM's 2nd Global Summit On P2P Digital Asset System

Next Post
ASSOCHAM Organizes 3rd Conference On P2P Digital Assets System | assocham bitcoin event | assocham blockchain event | assocham digital asset event | latest bitcoin news and updates | latest cryptocurrency news and updates | bitcoin event in india | bitcoin event in delhi | bitcoin conference in india | bitcoin conference in delhi | bitcoin seminar in india | bitcoin seminar in delhi | blockchain event in india | blockchain event in delhi | blockchain conference in india | blcckchiain conference in delhi | blockchain seminar in india | blockchain seminar in delhi | cryptocurrency seminar in india | cryptocurrency seminar in delhi | cryptocurrency event in india | cryptocurrency event in delhi | cryptocurrency conference in inda | cryptocurrency conference in delhi

ASSOCHAM's 2nd Global Summit On P2P Digital Asset System

Recent Stories

Is an Altseason Coming? Chainlink (LINK) Hits New Record Highs of $21.40, Polkadot & Cosmos (ATOM) Surge

Is an Altseason Coming? Chainlink (LINK) Hits New Record Highs of $21.40, Polkadot & Cosmos (ATOM) Surge

January 15, 2021
Quickly

Financial Advisor Introduces Petition for the UK Government to Ban Crypto Transactions

January 15, 2021
LTC Price Analysis: Steep Correction on LTC/USD From $186 High, Flare Networks Announces Litecoin Airdrop

LTC Price Analysis: Steep Correction on LTC/USD From $186 High, Flare Networks Announces Litecoin Airdrop

January 15, 2021
Bitcoin

Bitcoin Falls Below $35k Despite the Unveiling of Biden’s $1.9 Trillion Stimulus

January 15, 2021
cryptocurrencies

The Impact Of Cryptocurrencies On The Global Marketplace

January 15, 2021
What Will 2021 Hold for Bitcoin and Crypto? BTC Price Prediction and Events To Watch Out for by Mid-2021

What Will 2021 Hold for Bitcoin and Crypto? BTC Price Prediction and Events To Watch Out for by Mid-2021

January 14, 2021
Trading

PayPal Crypto Trading Volume Climbed $242 In One Day

January 14, 2021
Bitcoin

Government of Pakistani Province Announces Launch of Bitcoin Mining Farms

January 14, 2021
Ethereum

Google Data Reveals “Ethereum” Searches Hit All-Time High

January 14, 2021
BTC/USD

BTC Price Analysis: In a Return Rally BTC/USD Grinds Past $40,000 Amid Grayscale Bitcoin Purchase of $80M

January 14, 2021

Email Subscription

Pages

About Us

Contact Us

Disclaimer

Get Latest Cryptocurrency And Bitcoin News

Privacy Policy

Write for Kryptomoney.com

Category

Events

General

Interviews

News

Price Analysis

Press Release

Sponsored

Information

About Us

Submit Press Release

Submit Guest Post

Contact Us

Social Icons

[email protected]

©KryptoMoney 2019 | Southridge Internet Corp

No Result
View All Result
  • Resource List
  • News
  • Price Analysis
  • Events
  • Press Release
  • Sponsored

©KryptoMoney 2019 | Ess Commerce Private Limited

  • bitcoinBitcoin (BTC) $ 36,482.00 5.33%
  • ethereumEthereum (ETH) $ 1,176.73 3.04%
  • tetherTether (USDT) $ 0.998157 0.13%
  • bitcoin-cashBitcoin Cash (BCH) $ 483.32 4.99%
  • binancecoinBinance Coin (BNB) $ 41.25 0.27%
Our websites require cookies enabled to provide you with an uninterrupted experience. Please continue without changing your setting to receive important notifications.I Agree