The U.S. Commodity Futures Trading Commission will allow CME and CBOE to list bitcoin futures contracts. Fred Katayama reports.
The U.S. Commodity Futures Trading Commission says it'll allow CME and CBOE to list bitcoin futures contracts. The CFTC's move opens the door to added regulation and more mainstream adoption of the cryptocurrency. CME, the world's largest derivatives exchange, will start on December 18th. CBOE set a launch date "in the near future." Both contracts will be priced against and settled in the cash bitcoin market. VanEck's Gabor Gurbacs. (SOUNDBITE) GABOR GURBACS, DIRECTOR OF DIGITAL ASSET STRATEGY, VANECK (ENGLISH) SAYING: "Right now, digital assets trade in this parallel universe, really, that only a few people understand. When larger institutions participate in this space, then the asset classes are becoming more accessible, safer, more secure, and better for institutional investors and individual investors from the investor protection standpoint." Bitcoin jumped on the news to around $10500. Nasdaq also plans to list a futures contract based on Bitcoin in 2018.