Are Bakkt looking to pip CME to the post for Bitcoin options
|The Intercontinental Exchange and their flagship Bitcoin product Bakkt are said to be looking to jump in ahead of the CME group to release a Bitcoin options contract.
Apparently, It wants to beat its rival CME, which is looking at a 1Q 2020 launch for its own bitcoin option contract. Deribit in Amsterdam already sell Bitcoin options but they do not have the standing of CME or ICE.
It has been said that BTC options will attract more institutional investors and improve the digital currencies reputation amongst the finance community.
Just today it was announced that the CME group are looking into an Ethereum futures contract after CME chairman called Ether a "commodity".
Mr Tarbert said he believes ether is not secure when speaking at the Yahoo! Finance All Markets Summit. In a strong opening statement Tarbert said he wants America to lead in the game of blockchain he then went on to say:
“We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether – until now,” Tarbert said. “it is in my view as chairman of the CFTC that ether is a commodity.”
So now its the battle of the exchanges, options contracts could be lucrative and being first to market could provide a competitive edge.
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