The second major financial instrument based on bitcoin is operating to trade on the Chicago Mercantile Exchange.
The CME Group, one of the nation's primary exchanges of options and options contracts ,opened up bitcoin futures for trading at 6 p.m. EST Sunday. The initial price for bitcoin futures was $20,650, and the crypto currency was trading at $20,135 at 6:08 p.m. EST.
The electronic currency has increased in popularity and worth this year while drawing challenges regarding its unpredictability.
The CME bitcoin futures and options, like the bitcoin futures that now trade on the Chicago Board Options Exchange, do not consist of tangible bitcoin. They will measure an index of bitcoin price. Each contract will be for 5 bitcoin.
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Bitcoin futures will make it easier for more investors to buy the crypto-currency, by removing the need for them to set up a special digital Bitcoin wallet.
18, and the fact the futures markets can exceed the market for their underlying asset, here's what yo know about bitcoin futures. If you step back, though, it makes sense that the Bitcoin futures market would start slow. BITCOIN made its anticipated debut on the CBOE futures market this weekend, but traders are worried about the impact this might have on bitcoin prices.
It's essentially an agreement between two parties to pay the difference between the underlying asset's current price and its price when the trade is closed A choice of award-winning trading platforms and apps for tablets and smartphones -packed with tools to help your customers analyze the markets. related
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