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Last Contract For Bitcoin Futures On CBOE To Be Settled On 19th June

CBOE, short for Chicago Board Options Exchange, has decided to stop offering Bitcoin futures on its options market. As per the reports, the last contract for Bitcoin futures will be settled on 19th June 2019 after which no new contracts for it will be added by CBOE. It was in March this year that the biggest options market in the world had first made this decision public.

It must be noted here that CBOE was the very first exchange in America which had listed Bitcoin futures one year and six months ago. During its launch, CBOE Global Markets’ then COO (Chief Operating Officer) and President Chris Concannon had stated how they thought derivatives would bring about changes in the conventional finance sector and accelerate the acceptance of digital currencies.

Continuing further, Concannon said that they truly believe the crypto market to explode over a span of a decade with respect to the assets and currency they involve with it. Learn 2 Trade commented they had seen a spike in their daily forex signal subscriptions, investors clearly looking to gain extra insight to the market.

However, when the company announced to stop adding new Bitcoin (XBT) futures back in March 2019, it released a statement saying CFE (Chicago Futures Exchanges) won’t be adding CBOE Bitcoin futures contract (USD) (XBT) for anyone to trade in the month of March. The statement further revealed that CFE was assessing the ways it could plan to continue its offering of digital assets derivative trading.

The recent official email statement conveyed by Suzanne Cosgrove, company’s spokesperson, firmly said,

CBOE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading.

The statement concluded saying that the exchange does not have anything newer to make an announcement for at the moment.

While CBOE has pulled back from offering Bitcoin futures due to lack of volume, CME, short for Chicago Mercantile Exchange, has no intention of following in the footsteps of CBOE. CME had listed Bitcoin futures just after CBOE. What’s important to note is while CBOE struggled to keep the volumes, CME has always experienced great trade volumes of this crypto derivatives.

In fact, on 13th May, CME recorded as many as 33,700 Bitcoin contracts, reaching a peak volume. On that day, the exchange went on to process over a billion dollars.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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