First Results of Launching Bitcoin Futures from CME
December 18, 2017
On December 18, 2017, the world's largest futures exchange CME Global launched trading Bitcoin futures.
The price of the first monthly contracts at the start of trading rose by $1150 dollars, afterwards it dropped by $1650. The trade volume was quite modest: 241 contracts were sold in 15 minutes.
The launch of trading also affected the Bitcoin rate, drawing it below $19,000 for a token.
Despite all this, trading Bitcoin futures that started a week ago on the CBOE were not bad, but the volumes were also small. The most popular type of contract, expiring in January, gained about 17% for the first 7 days and closed on Friday at the rate of $18,100.
Unlike the CBOE, the value of the contract for CME Global is based on the quotations of several exchanges offering greater transparency of exchange rate indicators.
It should be noted that the launch of trading futures for this digital currency that is officially controlled is a big step towards the legalization of cryptocurrencies. If it is good or evil, it's unclear yet.