CBOE delists Bitcoin – documents from the Chicago Board Options Exchange shows that no new contracts for Bitcoin futures were added for March 2019.
The CFE, Chicago Futures Exchange, has effectively delisted its bitcoin futures according to a March 7th document describing products being added and removed for the upcoming month.
“CFE is not adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March 2019. 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 currently intend to list additional XBT futures contracts for trading. Currently listed XBT futures contracts remain available for trading.”
Futures are a financial instrument – a contract to buy commodities at a specific price with a delivery date set to a specific time in the future. Typically, this is often used, in commodities, to hedge against volatility – Bitcoin was no exception.
The reason for the delisting, according to the director of research at TradeBlock:
That's cause Cboe bitcoin futures trading volumes have been getting crushed by CME. pic.twitter.com/4dpi9Tfuwg
— John Todaro (@JohnTodaro1) March 14, 2019
When the CBOE and the CME entered the game in late 2017, the market topped. Investors were overjoyed, and that saw Bitcoin skyrocket to nearly 20k per coin. Today, BTC is trading at 4000.03 as of writing this article.
Now, it seems that all futures trading is coming to a screeching halt. Could they be contemplating or gearing up for Bitcoin Settled Derivatives?