Bitcoin open for ‘future’ business
Trading in Bitcoin futures began in Tokyo in December 2017, as Chicago Board of Options Exchange Global Markets became the first major exchange to offer the contracts pegged to the cryptocurrency.
Similar contracts will start trading in a week on the CME Group – it’s a test whether institutional money will go after Bitcoin, which so far has mainly attracted individual investors.
Note: The virtual currency has divided opinions among financial executives and central bankers worldwide about its legitimacy as an asset.
Immediate introduction saw prices for the volatile cryptocurrency jump back above +$15,000 and within four hours had eclipsed +$16,000. Just 24 hours earlier, Bitcoin had been at +$13,000. It was recently trading at around +$16,400.