TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

No more Bitcoin futures on CBOE, crypto market doesn’t care

  • The exchange won’t list new contracts in March.
  • The market shows no reaction whatsoever.
No more Bitcoin futures on CBOE, crypto market doesn’t care
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

Cboe Futures Exchange (CFE) announced that they wouldn’t launch new Bitcoin futures this month. According to the statement, the company needs to review its approach to the cryptocurrency ecosystem. 

“CFE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading. While it considers its next steps, CFE does not currently intend to list additional XBT futures contracts for trading,” - the company explained.

Meanwhile, the existing Bitcoin futures will remain available for trading, which means that the most recent contract XBTM19 will expire in June 2019.

The decision may be prompted by low trading volumes. According to the research conducted by TradeBlock at the beginning of February, investor interest towards Bitcoin futures on CME and Cboe is fading away.

It is worth noting that these US-based platforms offer cash-settled futures, which means that upon the contract’s expiration, one party pays the other the difference between the spot and futures prices in USD.

This news failed to trigger any meaningful reaction on the cryptocurrency markets as all significant coins including Bitcoin continued trading in narrow ranges. Obviously, at this stage, the market is dominated by technical and speculative factors.
 

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

More from Tanya Abrosimova
Share:

Editor's Picks

Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

Ripple’s (XRP) correction on Monday is deepening below $1.30, reflecting growing headwinds in the broader cryptocurrency market. Based on the token’s technical picture, the path of least resistance could stay downward until the $1.30 supply area flips into support.

Bitcoin stalls around $80,000 as geopolitical tensions dampen risk appetite

Bitcoin stalls around $80,000 as geopolitical tensions dampen risk appetite

Bitcoin hovers around $80,500 on Monday after three straight weeks of correction. Rising geopolitical tensions in the Middle East continue to push oil prices higher, stoking inflation concerns and dampening risk appetite.

Crypto Today: Bitcoin, Ethereum and XRP extend losing streak as bearish momentum builds

Crypto Today: Bitcoin, Ethereum and XRP extend losing streak as bearish momentum builds

Cryptocurrency prices are broadly correcting on Monday, led by Bitcoin’s five-day sell-off. Ethereum edges lower and trades around $2,325, as sellers build momentum to retain control over the trend. Meanwhile, Ripple shows signs of consolidating.

Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network trades around $0.075 on Monday, holding steady after two consecutive days of roughly 2% losses, resulting in the lowest weekly close ever. Pi Network rolled out desktop version 0.6.4 on Thursday, focused on improving remote access and security for local AI apps.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.