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Chicago Board Options Exchange (CBOE) documents show no new contracts added for XBT Bitcoin futures for March 2019, removing from the list of the derivative of the BTC.
The Chicago Future Exchange (CFE) has effectively removed its list of bitcoins from futures, according to a March 7 document describing products added and removed for the coming month.
"CFE does not add Cboe Bitcoin (USD) (" XBT ") future contracts for trading in March 2019. CFE is badessing its approach to how it plans to continue to offer digital badet derivatives for trading purposes. CFE does not currently plan to list additional XBT Futures for trading purposes. Currently listed XBT Futures are still available for trading. "
Futures contracts are a financial instrument, a contract to purchase specific quantities of a product at a specified price with a delivery set at a later time, often used by miners and companies to protect themselves against the volatility of bitcoins.
The reason for delisting from the list, according to TradeBlock's director of research:
That's why CME has crashed Cboe's bitcoin futures trading volumes. pic.twitter.com/4dpi9Tfuwg
– John Todaro (@ JohnTodaro1) March 14, 2019
Meanwhile, the feeling of the crypto community is mixed. Some describe the removal of the list as a "surrender", as described by a publisher:
"The CME contract in June is settled at [$]3840. Do you think we'll be close to that in June? No, the short side is being slaughtered … CBOE is smart to cut and run now before things get really ugly and embarrbading. Embarrbading? Yeah, imagine a big financier who explains to his shareholders that his fund is bankrupt because they've sold Bitcoin on a short term. "
The impact of this decision on overall liquidity, price and access to bitcoin is unclear, the impact of this decision being essentially related to the nature of the structure of futures contracts in the CFE. More details will be provided as the story unfolds.
Bitcoin, currently ranked No. 1 by market capitalization, is on the rise 1.28% in the last 24 hours. BTC has a market capitalization of $ 70 billion with a 24-hour volume of $ 9.53 billion.
CryptoCompare's graphic
Bitcoin is up 1.28% in the last 24 hours.
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Warning: The opinions of our writers are solely theirs and do not reflect the opinion of CryptoSlate. None of the information you read about CryptoSlate should be considered investment advice, and CryptoSlate does not support any project that may be mentioned or badociated with this article. The purchase and trade of cryptocurrency should be considered as a high risk activity. Please do your own due diligence before taking any action related to the content of this article. Finally, CryptoSlate takes no responsibility if you lose money by exchanging cryptocurrencies.
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Mitchell is a software enthusiast and entrepreneur. In addition to writing, he runs a non-profit organization that teaches blockchain to people. In his spare time, he enjoys playing chess or hiking.
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