Trading in Bitcoin futures began in Tokyo last night, as the Chicago Board of Options Exchange 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 as a test whether institutional money will go after Bitcoin.
For anyone looking for significant clues to the future of Fed policy, yesterday’s FOMC statement was a real letdown. The announcement mostly reflects U.S policy makers’ caution in a time of political upheaval. Nevertheless, the Fed indicated that they remain on track to gradually raise short-term interest rates this year.