The big buzz in the cryptocurrency market lately has revolved around what will happen when Wall Street dives in head first and begins offering Bitcoin futures trading.
Virtually all that buzz centered on the plans CME Group, the Chicago/New York firm with over $3 Billion in annual revenue.
But in a surprising move - a rival firm is beating them to the punch! CBOE announced today they'll be offing Bitcoin futures on December 10th.
CME will now be jumping in a week later, on December 18th.
CBOE is roughly 1/3 the size of CME Group, the world's largest player in futures.
Today in a press release CBOE stated:
Cboe Futures Exchange, LLC (CFE) plans to launch trading in Cboe bitcoin futures at 5:00 p.m. Central Time on December 10 under the ticker symbol "XBT". This brings many benefits to traders, including transparency, efficient price discovery, deep liquidity and centralized clearing. XBTSM futures provides a centralized marketplace for participants to trade based on their view of bitcoin prices, gain exposure to bitcoin prices or hedge their existing bitcoin positions.
CBOE is encouraging their clients to either "trade based on their outlook" of Bitcoin's future, or "Hedge their Bitcoin risks".
Author: Ross Davis
San Francisco News Desk
