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Chicago Board Options Exchange Delister Bitcoin Futures



Chicago Board Options Exchange Delister Bitcoin Futures | CryptoSlate

  Chicago Board Options Exchange Delister Bitcoin Futures

Documents from the Chicago Board Options Exchange (CBOE) show that no new contracts were added for their "XBT" Bitcoin futures for March 2019, effective delisting of the BTC derivative

Chicago Future Exchange (CFE) has effectively delisted its bitcoin futures according to a March 7 document describing products added and removed for the coming month.

"CFE does not add a CBOE Bitcoin (USD) (" XBT ") futures contract for trading in March 2019. CFE considers its approach to how it plans to continue offering digital active derivatives While considering its next steps, CFE currently does not intend to list additional XBT trading futures contracts, currently XBT futures contracts are still available for trading. "

Futures is a financial instrument, a contract to Buy certain quantities of a commodity at a specified price with a delivery set to a certain time in the future, often used by miners and businesses to hedge against bitcoin volatility.

The reason for the delisting, according to research director at TradeBlock:

Meanwhile, sentiment from the crypto environment is mixed. Some describe the deletion as "capitulation", as described by a Redditor:

"CME June contract is settled on [$] 3840. Do you think we're going to be anywhere in June? No. The short side is being slaughtered … CBOE is smart to cut and run now before things get really ugly and embarrassing. Embarrassed? Yes, think of a big-financed financier explaining to their shareholders that his fund is bankrupt because they shorter Bitcoin. "

It is unclear how the decision will be affect the overall liquidity, price and availability of bitcoin with much of the impact that depends on the nature of how futures were structured in CFE. More details will be given when the story unfolds.

Bitcoin, currently ranked # 1 by market value, is up 1.28% over the last 24 hours. BTC has a market value of $ 70B with a 24-hour volume of $ 9.53B.

Figure by CryptoCompare

Bitcoin is up 1.28% over the last 24 hours.

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  Mitchell Moos

Mitchell is a software enthusiast and entrepreneur. In addition to writing, he runs a nonprofit that teaches people about blockchain. In his spare time he loves playing chess or walking.

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