CBOE Terminates Bitcoin Futures for Now


CBOE or the Chicago Board Options Exchange has announced that it is dropping the new Bitcoin futures contract this month. The decision has been taken due to the low trading volumes of Bitcoin. CBOE has indicated that its CFE future platform was taking seriously on the Cryptocurrency derivatives trading. On 14th of March 2019, in a statement the exchange has revealed that CFE is not adding a CBOE Bitcoin (USD) (XBT) futures contract for trading in March 2019. The current Bitcoin futures contracts remain available for trading till June after which they will expire. The CBOE futures were greeted with warmth then they first entered into the market in the December of 2017 when the market of Bitcoin was pretty high. In 2018, as the XBT trading volumes nosedived, it became a necessary event to look after the Bitcoin futures.

As per the research company Tradeblock, the XBT has been losing its ground to Bitcoin futures from the Chicago Merchantile Exchange (CME) and the CBOE whose volumes have suppressed the volumes of XBT in the recent months in spite of the fact that they had started together. Since summer 2018, after reaching its peak the trading volumes of Bitcoin futures have fallen. The report has further stated that while the Bitcoin futures trading volume initially saw the significant growth in each and every month following the inception, during the same period the spot trading activity was randomly declining. With these divergent trends, the total futures trading volumes all across CBOE and CME has reached the equivalence with the total spot trading volumes across the five largest U.S. accessible digital currency exchanges. Tradeblock has stated that this has somewhat changed lately where the future volume has fallen helping spot volume to rise. Erisx, Bakkt and Coinflex are prepared to launch the Bitcoin futures.


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