CBOE Futures Exchange (CFE) Puts Bitcoin Futures On Hold

Marco Green
March 15, 2019

It's worth to note that the Bitcoin futures announcement bash of CBOE and CME group broke out in late 2017 when Bitcoin was on extreme peak.

The Chicago Board Options Exchange (CBOE) has announced that its CFE futures exchange platform will not be adding a Bitcoin (XBT) futures contract this month.

An official report revealed that a CBOE will restrict Bitcoin future listing in March because the exchange is on serious view to better approach derivatives for trading in the near future.

"CFE is not adding a Cboe Bitcoin (USD) ("XBT") futures contract for trading in March 2019". The remaining futures listed on the exchange will continue to trade, with the last month contract now for June expiration. That means the last contracts listed, XBTM19, will expire in June.

CBOE halts Bitcoin futures, considering conceding market to CME
CBOE Future Exchange (CFE) Restricted Bitcoin Futures Temporarily

The move comes at time when Bitcoin trading volumes have seen more than 80% declines since early 2018, with CBOE XBT products failing to generate more than $1B in notional trading volume since May 2018.

By contrast, up-and-coming competitors Bakkt and ErisX plan to offer physically settled futures contracts, in which real bitcoin is delivered to the buyer.

The Chicago exchanges' futures are cash-settled, meaning at the end of the contract one party pays the other the difference between the spot and futures prices of bitcoin in USA dollars.

Cboe image via Shutterstock.

Other reports by Click Lancashire

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