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Cboe Futures Exchange (CFE) puts its bitcoin futures market on hold.
The Cboe Global Markets unit said on Thursday that it would not create a new bitcoin futures market for the month of March, citing the need to revisit the way it addresses the space.
"CFE does not add a futures contract on Cboe Bitcoin (USD) (" XBT ") for trading in March 2019," the futures exchange said in a notice to traders on Thursday afternoon, adding :
"CFE is currently evaluating its approach to how it plans to continue to offer digital badet derivatives for trading. CFE does not currently plan to list new XBT Futures for trading purposes, although it is considering its next steps. "
However, Cboe said the currently listed bitcoin futures will remain available for trading. This means that the last contracts listed, XBTM19, will expire in June.
Cboe, along with its competitor CME Group, made a splash at the end of 2017 when everyone introduced Bitcoin futures. Futures contracts are settled in cash, which means that at the end of the contract, one party pays the other the difference between US dollar spot prices and forward prices.
In contrast, emerging competitors Bakkt and ErisX plan to offer physically resolved futures contracts in which real bitcoins are delivered to the buyer.
Cboe image via Shutterstock.
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