Published: Mon, March 18, 2019
Markets | By Otis Pena

CBOE Future Exchange (CFE) Restricted Bitcoin Futures Temporarily

CBOE Future Exchange (CFE) Restricted Bitcoin Futures Temporarily

The Chicago Board Options Exchange [CBOE] decided not to list any Bitcoin [BTC] futures for trading in March 2018.

As per the statement, Cboe Futures Exchange, LLC or CFE, which adds the contracts, is re-evaluating how to approach trading of digital assets. They mentioned "CFE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading. While it considers its next steps, CFE does not now intend to list additional XBT futures contracts for trading", CBOE noted.

It remains to be seen how the delisting of XBT products will affect the overall daily volume of Bitcoin (BTC) in the weeks that follow the expiration of the remaining contracts.

CBOE, on-the-other-hand, entered the crypto market at the height of the Bitcoin bubble in 2017.

Cboe, unlike CME, with which it launched Bitcoin futures at about the same time, can not boast of a significant interest of traders in its cryptocurrency product.

CBOE halts Bitcoin futures, considering conceding market to CME

However, time will surely tell - especially with June approaching, when the now listed futures will expire from the CBOE.

In mid-December, Bitcoin hit its all-time high at about $20,000 which was exactly when CME launched its bitcoin futures trading product.

This comes just days after a Bloomberg report indicating that the Bitcoin price could potentially soon be adversely affected by a large selloff. Bitcoin gained against the United States dollar by 0.5 percent, and was trading at over $3,900, with the coin-market holding firm at $135 billion. The trading volume of Cboe's bitcoin futures were disappointing.

Last Wednesday was the latest round of CBOE XBT (XBTH19) futures expired.

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