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CBOE cancels the renewal of its Bitcoin Futures Contracts



In a new tournament, the Chicago Board Options Exchange (CBOE) announced that the firm will not renew its USD-resident Bitcoin (BTC) futures contract – effectively stopping the corresponding trading market on the CBOE Futures Exchange (CBOE Futures Exchange) CFE platform.

On December 11, 2017, CBOE launched the world's first Bitcoin Futures contract. The decision not to renew the contract was published through a product update document released March 7, 2019, just 15 months after the Bitcoin futures contract was first introduced. According to the document, the currently listed XBT futures contracts will remain listed for their expiration in June later this year.

It remains to be seen how the delisting of XBT products will affect the total daily volume of Bitcoin (BTC) in weeks following the expiry of the remaining contracts. Since the XBT was a cash-operated product with 44 percent security needed for short three months, expert traders expected a fairly positive pace of Bitcoin prices on the market.

 cboe bitcoin futures

Bitcoin Delisted After Consistent Low Market Volume

Currently, CBOE's Bitcoin Futures contract "XBT" competes with "BTC" futures contract from rival futures derivatives exchange operator Chicago Mercantile Exchange ( CME).

Despite both of these contracts having no physical support, they serve as an important investment vehicle for large investment companies – including institutions, hedge funds and accredited investors – so they can speculate on the price of Bitcoin in the near future without the challenges of actually keep someone. 19659003] XBT contracts are for a bitcoin only, while CME BTC contracts are for five bitcoin each. Experts suspect that this fact may have made CME's Bitcoin contracts more attractive to investors as they provide the important volume increase needed to retain dominance – despite the slow market in 2018.

 cme bitcoin

CBOE, on the other hand, entered the crypto market at the height of the Bitcoin bubble in 2017. Despite contributing to some initial growth in Bitcoin prices, the charts quickly entered a downhill shortly after the launch of their Bitcoin futures scheduled.

Failed Bitcoin ETF Launch, Failed Bitcoin Futures Product

. Since CBOE entered the crypto course market, the firm has been pressing hard to get approval for a physically supported Bitcoin Exchange Traded Fund (ETF).

However, during 2018, the US Securities and Exchange Commission (SEC) has rejected or delayed several Bitcoin ETF proposals from a number of investment firms, which led many to wonder if the SEC only plays hardball or

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During this period, CBOE co-ordinated with the investment management company VanEck and SolidX, a mysterious block chain, without applying to the SEC on several occasions. What is your opinion on CBOE Bitcoin (BTC) futures delisting? Do you think we will see more Bitcoin futures launched this year? Please let us know your thoughts in the comments below!


Images with rights to Shutterstock.


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