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Cboe pulls the plug on bitcoin futures trading — for now
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Cboe pulls the plug on bitcoin futures trading — for now

The Cboe said on Thursday it doesn’t intend to list any additional bitcoin futures contracts going forward, putting an end to — at least for now — cash-settled trading of the best-known cryptocurrency on its exchange.

In a statement, the Cboe Futures Exchange, or CFE, said no additional contract would be listed past June but did not fully close the door on digital asset-related trading, saying it was “reassessing its approach.”

“CFE is not adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March 2019,” the Cboe said in a press release. “CFE does not currently intend to list additional XBT futures contracts for trading. Currently listed XBT futures contracts remain available for trading,” the release read.

Despite the industry euphoria, bitcoin futures have seen tepid interest, especially on the Cboe exchange, which has significantly lagged its rival CME Group in volume. Seems the CBOE will stop offering bitcoin futures next June. Quite unfortunate.

That’s cause Cboe bitcoin futures trading volumes have been getting crushed by CME.

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The three active contracts will continue to trade until the final one expires June 19.

MarketWatch has yet to receive a request for comment from the Cboe and the CME Group said they have no comment on the decision.

In most recent trade, a single bitcoin BTCUSD, +1.31%  on the spot Kraken exchange fetched $3,882.10, up 0.8%, while the April Cboe contractXBTJ9, +1.36%  was changing hands at $3,880, up 0.9%.

Bitcoin futures made their debut on the Cboe exchange on Dec. 10, 2017, amidst a surge in the price of the world’s largest cryptocurrency. In December alone, spot bitcoin prices rose as much as 108%, trading to an all-time high just shy of $20,000. Futures on the CME Group exchange made their debut eight days later.

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