CME Group to Launch Bitcoin Futures Contract

CME Group to Launch Bitcoin Futures Contract

CME Group to Launch Bitcoin Futures Contract

CME Group, Inc. announced today that it's opening up bitcoin futures, a stock investment trading for the cryptocurrency, by the end of 2017, after it acquires the necessary regulatory permits from the U.S. Commodity Futures Trading Commission (CFTC).

On the US -based Bitfinex exchange, rose to $6368.5, up $234.1, or 3.28% after hitting an all-time high of $6450.

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CME Group Chairman and CEO Terry Duffy said in a statement the company's decision was driven by the "increasing client interest in the evolving cryptocurrency markets". The futures contract will be settled in cash, according to the group. The move higher in bitcoin gold comes three-days after it slumped to an all-time low of $87.2. The reference rate aggregates the trade flow of major bitcoin spot exchanges - Bitstamp, GDAX, itBit and Kraken - during a calculation window. But in mid-October, China reportedly resumed the trading of Bitcoin and other cryptocurrencies by using more regulations.

The creation of bitcoin futures by the CME Group could finally make it possible to establish an exchange-traded fund that's based on the world's most popular cryptocurrency, which has been previously hard due to bitcoin's largely unregulated nature. LedgerX launched bitcoin derivatives earlier this month and has already experienced higher-than-expected volumes.

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Futures will be settled in cash based on a Bitcoin index that CME started calculating in November.

Bitcoin is a form of digital currency, created and held electronically.

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Now that bitcoin futures are around the corner, investors can expect to see products such as bitcoin exchange-traded funds (ETFs) begin to emerge that track the performance of bitcoin.

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