Top Chicago Exchanges Release Bitcoin Futures Details

Cornelia Mascio
Novembre 21, 2017

The announcement made by CME Group about the Bitcoin Futures Contract back on October 31st, 2017 was backed by a big euphoria amongst investors which has catapulted the Bitcoin prices from $5000 to $8000, a remarkable 40% increase. Having touched a record high of above $81000 in the past 48 hours, Bitcoin price creates a new benchmark at $8336, according to CoinMarketCap and is now trading at $8103.42.

The CBOE released their contract details in a similar statement.

There are plenty of reasons why someone like Jamie Dimon shouldn't utter more than a few noncommittal syllables about a thing like bitcoin. Their contract will be a 1BTC (or XBT) with a tick of $10. The CME website now states that futures contracts will be available before the end of the year pending all relevant regulatory review periods. I've done academic work on the launch of newly listed products in the past and prior assumptions about new markets often are off the mark.

JPMorgan is considering whether or not to help clients tap into a potential market for bitcoin futures, according to The Wall Street Journal.

The details of the actual contracts were released and they will comprise of 5BTC with spot position limits set at 1000 contracts.

The news bolstered the price again as it is likely to when these contracts go live next month.

"J.P. Morgan is considering whether to provide its clients access to CME's new bitcoin product through its futures-brokerage unit", the report on Tuesday said citing a person familiar with the situation. "So you create a two-sided market, I think it's always much more efficient".

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