Assets marketplace CME Group has announced it will offer bitcoin futures contracts beginning in the first quarter of next year.
In its statement on Friday, CME reported the launching of bitcoin choices aiming to provide customers with”added tools for precision trading and hedging.” The launching is currently pending regulatory inspection.
Tim McCourt, CME Group global leader of equity indicator and other investment products, stated:
“According to increasing customer demand and strong growth within our Bitcoin futures markets, we now consider the launching of various options providing our customers with extra flexibility to hedge and trade their bitcoin cost risk. These new products are designed to help institutions and traders to control spot market bitcoin vulnerability, in addition to hedge Bitcoin futures positions in a controlled exchange atmosphere.”
In March 2019, CBOE suddenly changed track and stopped the futures . That abandoned CME as the only supplier of bitcoin futures from the U.S.
CME is going to have a new competition , but when the Intercontinental Exchange (ICE) and its subsidiary Bakkt start offering a brand new futures product Contrary to CME’s cash contracts however, ICE will soon be supplying a physically settled merchandise, meaning clients will get real bitcoin rather than the money equivalent.