Only Live in 18 Months: Cboe Expected to End Bitcoin Futures Trading Next Week

[ChainDD report] June 12 (ChainDD) As of 4 p.m. June 19, Cboe, the largest option exchange in US, is expected to end its Bitcoin derivatives trading as its last Bitcoin futures contract (XBT) expires, since it hasn’t announced any new plan about the trading till now.

Cboe is “assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading, but we have nothing new to announce at this time”, said a spokeswoman Suzanne Cosgrove, quoted by a Bloomberg report last week.

Cosgrove’s statement reaffirmed Cboe’s previous announcement. In March, 2019, Cboe said it is assessing how to continue its plan of digital asset derivatives for trading and when considering future move, it doesn’t intend to add new XBT contract.

ChainDD noted Cboe’s Bitcoin futures exit doesn’t mean decrease in institutional interest in Bitcoin futures. CME, Group, the largest futures market in the world, saw both the open interest and trading volumes of Bitcoin futures contracts breaking record in May, 2019. The average daily trading volume surges more than 250% from the same month in 2018 and open interest increased 80% from a year ago. The amount of new opening accounts recorded the highest increase since January, 2018.

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