Approximately twenty months after it first listed a multitude of concerns as reasons for its refusal of a Bitcoin ETF, the SEC has come to the same moment of reckoning. The next couple of weeks are critical for Bitcoin ETFs as the agency takes a decision on applications filed by New York-based Wilshire Phoenix and San Francisco’s Bitwise Asset Management. The prospects of approval for … Continue reading A Time of Reckoning for Bitcoin ETFs
Bakkt, the bitcoin futures platform backed by NYSE owner ICE, launched trading for its contracts yesterday evening. The first bitcoin contract was traded on the platform at 8:02 pm. During the first hour, three Bitcoin were traded on the exchange. As of this writing, 53 monthly contracts for bitcoin have exchanged hands, forecasting a price lower than $10,000 for the cryptocurrency next month. Bakkt is … Continue reading NYSE Owner-Backed Bakkt Launches Futures Trading
The world’s biggest exchange for futures trading is betting on increased demand for bitcoin futures. The Chicago Mercantile Exchange (CME) filed with the CFTC last week to increase the number of open interest position limits for bitcoin futures from the current 1,000 contracts to 2,000 contracts, starting October. In simple terms, this means that traders will be able to hold larger positions in bitcoin. Each … Continue reading CME Increases Position Limits for Bitcoin Futures
Bakkt, the futures platform backed by NYSE owner ICE, has released margin details for its daily and monthly contracts. The contracts begin trading on Sep. 23. Investors hedging its daily and monthly futures for hedging are required to put up a margin deposit of $3,900 while those using its futures products to speculate on the cryptocurrency’s price movement are required to deposit $4,290 before they … Continue reading Bakkt Releases Margin Details For Futures Contracts
The world’s biggest exchange Binance is moving into futures trading. The Malta-based exchange announced Monday that it had acquired JEX – a Seychelles-based trading platform that offers spot and derivatives trading solutions for crypto. “JEX will join the Binance ecosystem as Binance JEX and focus on further building the cryptoasset derivatives market, providing Binance users with professional services including futures contracts, options and other derivatives … Continue reading Binance Plans to Finalize Futures Trading Platform with Competition
So why did LedgerX lie about offering Bitcoin futures to retail customers? Apparently, it was the result of misunderstanding and confusion. Juthica Chou, chief operating officer at the company, implied to online publication Coindesk (which first broke the story) that they thought they’d been cleared to proceed with offering futures because the CFTC had not objected to their application. ““We filed on Nov. 8 and … Continue reading LedgerX Clarifies About False Bitcoin Futures Announcement
LedgerX has begun offering the world’s first physically-settled bitcoin futures contract. Previous offerings of Bitcoin futures contracts have been cash=settled, meaning that the trader receives cash, instead of physical Bitcoin, on contract expiry. The New York-based startup has beaten a number of other startups, such as Bakkt and ErisX, which have similar plans. LedgerX received CFTC approval for its product last month. The contracts are … Continue reading LedgerX Launches First Physically-Settled Bitcoin Futures Contracts
Bakkt, the ICE-backed bitcoin futures exchange, begins testing of its bitcoin futures contracts today. The exchange plans to offer a monthly and a daily contract to users. The futures contracts will be physically-settled on delivery. Up until now, most exchanges have offered cash-settled bitcoin futures contracts to allay investor fears about the cryptocurrency’s regulatory status and volatility at underlying cryptocurrency exchanges. A report earlier this … Continue reading Bakkt Begins Testing Futures Contracts Today
Institutional cryptocurrency exchange Bakkt, which plans to introduce the first physically-delivered Bitcoin contract in futures markets, is planning to begin user-acceptance testing on its software on July 22nd. This means that users will have access to its software and can begin trading futures on that date. For all practical purposes, it can be likened to a launch of its futures exchange. In a Medium post, … Continue reading ICE-Backed Bakkt Will Begin Testing Bitcoin Futures On July 22nd.
The Chicago Board Options Exchange (Cboe), which had introduced bitcoin futures contract trading in 2017, is discontinuing the cryptocurrency’s contracts for March. There is also a possibility that the exchange may completely discontinue bitcoin futures contract trading altogether. In an update yesterday, the exchange stated that it was “assessing its approach its approach with respect to how it plans to continue to offer digital asset … Continue reading Cboe Discontinues Bitcoin Futures Trading
The drawdown incryptocurrency markets has not affected Nasdaq’s plans to list bitcoin futureson its exchange. Joseph Christinat, vice president at Nasdaq, said his organization had put “a lot of money and energy” into the initiative. “We’re doing this no matter what,” he said, adding that the futures would be availablein the first half of next year. An earlier Bloomberg report cited anonymous sources who confirmed … Continue reading Nasdaq Confirms Plans For Bitcoin Futures In The First Half of Next Year
The number of bitcoin shorts has skyrocketed over the labor day weekend. According to Forbes contributor Billy Bambrough, a short position for 10,000 bitcoin was opened over the weekend. Another report claims that bitcoin shorts surged to $87 million during the same time period. BitMEX, a China-based platform for bitcoin trading, also claims that bitcoin shorts on its platform have skyrocketed. This is a significant … Continue reading What Does The Increase In Bitcoin Shorts Mean For Its Price?
In a new note, researchers at SF Fed state that bitcoin futures contributed to the cryptocurrency’s recent slump in prices. Continue reading SF Fed Says Bitcoin Futures Contributed To Price Decline In Crypto Markets
The cryptocurrency ecosystem is poised for a major overhaul. Goldman Sachs, the investment bank which has blown hot and cold over bitcoin in recent times, finally confirmed its intentions to enter bitcoin trading last week. In an interview with the New York Times, Rana Yared, Goldman’s managing director of securities, said the firm would begin trading bitcoin in “the next few weeks”. Yared claims to … Continue reading How The Recent Goldman And ICE Announcements Could Reshape The Crypto Industry
A New York Times report this morning confirms that the Wall Street bank, which has a storied history, plans to begin trading the newest investment instrument on the block in the next few weeks. According to the report, Goldman will use its own money to trade bitcoin futures contracts and is working to develop a new type of derivative – non-deliverable forward (probably named so because bitcoin futures are cash-settled) Continue reading Goldman Sachs Confirms Bitcoin Trading Plans
A flurry of negative news in the last couple of days seems to have taken a toll on bitcoin’s price. The cryptocurrency, which almost touched $20,000 in December retreated to below $8,000 earlier this week and even may have room to fall further. At 15:16 UTC, the price of a single bitcoin was $7,538.98, a steep decline of 7.28% from its price 24 hours ago. … Continue reading Bitcoin Price Continues Falling As Bad News Piles Up