Interactive Brokers launches bitcoin futures trading (IBKR, CBOE)

Interactive Brokers launches bitcoin futures trading (IBKR, CBOE)

Instead of being relegated to the confines of the internet and questionable Bitcoin and cryptocurrency exchanges around the world, Bitcoin has now found its way to the CBOE futures exchange in Chicago.

The one-month bitcoin contract opened at 6 pm local time (2300 GMT) on Sunday at $15,460, dipped briefly before rising to a high of $18,700 and then slipping again.

Once trading resumes, if the best bid in the XBT futures contract closest to expiration is 20 percent or more above or below the daily settlement price of that contract on the prior business day, the futures will be halted for 5 minutes.

There's been plenty for the markets to consider, with stability in Litecoin transactions providing strong support as news hit the wires of as many as 223,000 pending transactions across the Bitcoin exchanges.

All this is to say, it's nice that bitcoin futures didn't blow up in the first 18 hours that they started trading.

Meanwhile, CBOE's futures have also risen in the few hours after yesterday's launch.

Coindesk writes: "In all, the tumultuous start is perhaps a fitting start to the trading of the new contracts". But, according to McDonald, bitcoin will likely sustain its exponential growth rate in the long-term, while gold continues to decline in value against bitcoin. But while volatile compared with traditional currencies or assets, bitcoin's 10 percent rise on Monday was nothing out of the ordinary for it.

Will Bitcoin Futures Revive ETF Talk?

The Bitcoin price (BTC/USD) has rebounded from its recent lows after Chicago Board Options Exchange late on Sunday evening launched its highly-anticipated Bitcoin futures contracts. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication. Some clearing firms are already implementing a higher margin requirement and are setting a maximum number of contracts per account.

Bitcoin prices climbed up in another rally in Asian trading Friday morning, bellowing away $16,000 and $17,000 to reach a high of $17,627 before falling back. It's not exactly clear why that should be. The launch follows the digital currency's dramatic price jump of more than 1,000 percent in 2017. Their accuracy or completeness is not guaranteed.

The US economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. Critics include financial commentator Jim Cramer, who warns that prices could tumble once the new trading venues open the door to "short sellers", who bet on downward moves in assets.

Institutional investors are staying out of the market amid increasing worries about the clearing of the contract. This means they aren't actually buying and selling off their own currency, simply betting on how much its value will increase or decrease. "This is a tonne of fun'".

Bitcoin has never been hotter, even your non-tech friends are discussing the soaring cryptocurrency down the pub as it soars past $16,000.

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