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CBOE Won’t Be Adding New Bitcoin Futures Market Within This Month.

In line with a recent official ‘announcement‘ published, CBOE [Chicago Board Options Exchange] won’t add a new Bitcoin [BTC] futures market within this month.

According to the ‘statement‘, CBOE is re-evaluating new approaches towards digital assets trading. Explaining further [CBOE] added:

“CFE isn’t adding a CBOE Bitcoin [USD] [“XBT”] futures contract for trading in March, this year. CFE is assessing its approach with reference to how it plans to offer digital asset derivatives for trading. Whereas it considers its next steps, CFE doesn’t presently intend to list additional XBT futures contracts for tradings.”

The presently listed futures, XBTM19, is expiring in June this year. CBOE added that all the presently listed futures are still available for trading.

Earlier in Dec. 2017, CBOE ‘launched‘ Bitcoin futures trading, followed closely by its challenger, the CME [Chicago Mercantile Exchange].

Futures contracts offer investors exposure to an underlying asset – in this case Bitcoin [BTC] – without the requirement to actually own any. Instead, investors purchase contracts that track the underlying worth of the asset and speculate on whether or not the contract worth will increase or decrease by its expiration date. Within the case of the CBOE Bitcoin futures market, the difference is then settled in United States dollars.

Earlier this month, a recent report by Bloomberg added that the price of Bitcoin [BTC] could be headed for an another massive sell-off. Analysts added that the key technical indicators like the Moving Average Convergence Divergence had been moving downward since mid Feb. Explaining further, Bloomberg analyst ‘Mike McGlone’ added:

“The entire business is ripe to resume a path to a lower worth. Conditions are alike to Nov. last year in 2018, simply prior to the collapse…”

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