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CME Group to launch bitcoin futures contract by end of this year

CME Group, the world’s largest derivatives marketplace, has officially announced Tuesday, that its Bitcoin Futures Contract will be starting on December 10.

Still, the regulatory review of the contract is pending, but a recent update from CME Group said that,

“Effective Sunday 10 December 2017 for trade date Monday 11 December 2017, and pending all relevant regulatory review periods, please be advised that CME will launch Bitcoin Futures.”

Also Read: CME group hopes to breakdown Bitcoin volatility

The statement now excludes the exact dates of launch as of today.

Chairman and CEO of CME Group, Terry Duffy explained last month that the Bitcoin futures contract would allow investors to enjoy transparency, price discovery and risk transfer capabilities of the platform.

“Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract”.

Also Read: Bitcoin has surged – CME announced Bitcoin future trading

CME Group’s Bitcoin Future Contracts announcement has enormously contributed to the recent Bitcoin price surges. Since the announcement, bitcoin price has been rising, surpassing $6,500 for the first time, following the announcement. It reached an all-time new high of above $8000 Sunday this week.

Meanwhile, several bitcoiners are looking ahead to see what CME’s Bitcoin futures bring to the cryptocurrency environment.

Read Next: CME Group Declares Launch of Bitcoin Futures
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Sara Noah

Sara Noah is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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