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The CBOE & # 39; s Bitcoin Foray transforms one
As noted by Tom Hearden, a senior trader at Skylands Capital, later broadcast through MarketWatch, a year and a day ago, the Chicago Board Options Exchange (CBOE Global Markets) made history, becoming one of the first financial institutions to launch a Bitcoin effects (BTC) product.
Now that the crypt is in the middle of a bear market, it might even look back and remember … right?
Tuesday will mark the 1st anniversary of Bitcoin Futures. First check $ 15,000 and the limit stops twice in that first session.
Last exchange $ 3,160 – Happy birthday! pic.twitter.com/J3qsggEwrD– Tom Hearden (@followtheh) December 7, 2018
This instrument was, of course, a futures contract backed by BTC which became a hot topic of the industry almost instantly. However, in the original Ethereum World News report on the subject, which seems decades old, community members said they were dissatisfied with the product launch, as the Chicago-based institution's webpage blocks only eight minutes after the launch of the first BTC in good faith futures. Yet on that day of history, on December 11, 2017, BTC supposedly climbed from $ 14,500 to $ 15,700 in minutes, presumably due to the influx of interest that speculators expected.
In fact, spot and futures, the BTC has grown so rapidly that CBOE, probably inundated with requests from investors all over the world, has had to stop trading on its market … twice. And now, amid the market pause, catalyzed by the absence of Bitcoin bulls, the enthusiasm of CBOE to stop the trade is more evident than ever. In this case, the institution had to adjust its "lower price limit" percentage twice, when the futures price touched $ 3,160, the minimum since the beginning of the year.
Mati Greenspan spoke to the aforementioned point of view of the financial media on the Bitcoin futures issue, praising them as a resounding success: He wrote:
They have managed to open the market to users who otherwise would not have had access, so in this regard, I think they have been a bit of success. They not only allowed people to go long, but opened short sales to a wider audience.
While eToro's cryptographic analysts have portrayed the product in good light as it has broadened the horizons of Bitcoin, MarketWatch noted that the CBOE data indicate that the product failed to catalyze an unprecedented influx of institutional money. .
Bakkt, Nasdaq and ErisX To All launch Bitcoin Futures
Although the CBOE cryptography tool may not have collected large amounts of investment interests, there remain a number of companies trying to unveil futures for Bitcoin and, according to reports, even Ethereum.
As reported by Ethereum World News earlier, Bakkt, a varied startup encrypted in partnership with the Intercontinental Exchange, Starbucks and Microsoft, intends to launch a Bitcoin futures product physically supported by January 24, 2019, in a first sector.
ErisX, supported by TD Ameritrade, issued a similar announcement, apparently aiming to undermine its rival in Bakkt. Not much is known about this venture, but many expect it to offer a list of products that reflects or resembles Bakkt's.
More recently, Nasdaq, the world-renowned financial institution, said it is working in partnership with Crypto-friendly VanEck, to bring "crypto 2.0 future" to the market, with the company that supposedly considers Ethereum and Bitcoin as assets supported. Bloomberg has revealed that the Nasdaq is planning to embark publicly for the first major crypt raid by the first quarter of 2019, pending a green light from the US CFTC.
Ethereum product called
Even with all this clamor surrounding the future of Bitcoin, we expect a new competitor, if not expected to emerge in the scene of alternative investment vehicles of Crypto. This, if you have not already guessed it, is Ether (ETH), the native asset of the "world computer" that is the Ethereum network.
Just recently, the Commission on Trade in Raw Materials for Foreign Affairs (CFTC) has made it clear that it is considering the ETH. In a statement, the eminent US financial authority claimed that he was looking for the public's opinion on digital currencies, especially Ethereum. In a public statement, the body a bit cryptic wrote:
L & # 39; RFI [Request For Information] it also seeks to understand the similarities and distinctions between Ether and bitcoin, as well as opportunities, challenges and specific risks of Ether.
It is believed that the entity is seeking feedback to precede its decision on a vehicle supported by Ether, such as the alleged future Ethereum contracts supported by CBOE. Yet, a number of cryptic commentators have recently referred to Twitter to allude to the theory that if the future of Ethereum, even a non-physical instrument, were to go live, the native asset of the aforementioned blockchain could actually collapse, due to of "rehypothecation" – a common sight in traditional financial industries.
Confetti Title Image Courtesy of Jason Leung on Unsplash
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