CME doubling Bitcoin Futures positions! Regulators have been asked if the CME doubling bitcoin futures would be a problem – an official petition has been submitted.
The Chicago Mercantile Exchange (CME) has already put forth its plans before the Commodity Futures Trading Commission (CFTC). If successful, each investor would gain a monthly limit of 2,000 contracts per spot month instead of the current 1,000.
This is coming at a time when growth in demand for Bitcoin futures is rising. CME’s volume is setting new records on a regular basis.
The CFTC officially states that lower-risk trading instruments are not subject to limits – the agreement to lessen controls for the CME for Bitcoin Futures Contracts could be construed as the regulator having more faith and trust in Bitcoin options than before.
CME isn’t the only ones looking to offer Bitcoin futures, but they were one of the first – launching its product in December of 2017 – at the height of the Cryptocurrency Bull Run. The market has since expanded, with aggressive competitors coming out of the woodwork, such as Bakkt, who will offer physical Bitcoin futures, which pays out returns in BTC instead of fiat currency.
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