CBOE plans bitcoin futures in conjunction with Gemini

[alyssa85]

https://www.cnbc.com/2017/08/02/cboe-bitcoin-futures-winklevoss-brothers-digital-currency-exchange.html

The Chicago Board Options Exchange, the largest U.S. options exchange, is planning to launch its own bitcoin derivatives trading products by early next year.

Pending review from the U.S. Commodity Futures Trading Commission, the CBOE Futures Exchange (CFE) plans to offer cash-settled bitcoin futures in the fourth quarter of this year or sometime in early 2018, according to a Tuesday announcement.

The CFTC told CNBC in a statement that, "to date, the Commission has not received a filing for a bitcoin futures contract from the CFE."

Designated contract markets like CFE do not necessarily need prior approval from the CFTC in order to list a product for trading, according to the commission's website. Rather, those designated markets can list trading products by filing a self-certification with the commission one business day before the initial listing.

"We've really come to the conclusion recently that cryptocurrencies are here to stay," John Deters, chief strategy officer of CBOE parent CBOE Holdings, told CNBC in a phone interview.

Deters said the bitcoin futures, once reviewed, will be available to both institutional and retail investors.

The Chicago Board Options Exchange does eye-watering amounts of business every day - so bitcoin futures on their exchange is a big deal.

[cellard]

https://www.cnbc.com/2017/08/02/cboe-bitcoin-futures-winklevoss-brothers-digital-currency-exchange.html

The Chicago Board Options Exchange, the largest U.S. options exchange, is planning to launch its own bitcoin derivatives trading products by early next year.

Pending review from the U.S. Commodity Futures Trading Commission, the CBOE Futures Exchange (CFE) plans to offer cash-settled bitcoin futures in the fourth quarter of this year or sometime in early 2018, according to a Tuesday announcement.

The CFTC told CNBC in a statement that, "to date, the Commission has not received a filing for a bitcoin futures contract from the CFE."

Designated contract markets like CFE do not necessarily need prior approval from the CFTC in order to list a product for trading, according to the commission's website. Rather, those designated markets can list trading products by filing a self-certification with the commission one business day before the initial listing.

"We've really come to the conclusion recently that cryptocurrencies are here to stay," John Deters, chief strategy officer of CBOE parent CBOE Holdings, told CNBC in a phone interview.

Deters said the bitcoin futures, once reviewed, will be available to both institutional and retail investors.

The Chicago Board Options Exchange does eye-watering amounts of business every day - so bitcoin futures on their exchange is a big deal.

The more future options we have the better for sure. Only Barry Silbert has set up a bitcoin futures as far as I know.

There's a prediction that says during 2017 we are going to see the first ETF. There's still some time for it to happen, but I think if it's not 2017, it will be next year. This will be a propulsion to $10,000++ easily, even if we are going to get there without an ETF, an ETF would cause an instamoon to $10,000+. But that's a double edged sword since it would mean a big correction would follow.

In any case, these things are good if they happen. The more wall street money gets involved the better. The bitcoin protocol  will remain the same, so let all that money in.

[alyssa85]

https://www.cnbc.com/2017/08/02/cboe-bitcoin-futures-winklevoss-brothers-digital-currency-exchange.html

The Chicago Board Options Exchange, the largest U.S. options exchange, is planning to launch its own bitcoin derivatives trading products by early next year.

Pending review from the U.S. Commodity Futures Trading Commission, the CBOE Futures Exchange (CFE) plans to offer cash-settled bitcoin futures in the fourth quarter of this year or sometime in early 2018, according to a Tuesday announcement.

The CFTC told CNBC in a statement that, "to date, the Commission has not received a filing for a bitcoin futures contract from the CFE."

Designated contract markets like CFE do not necessarily need prior approval from the CFTC in order to list a product for trading, according to the commission's website. Rather, those designated markets can list trading products by filing a self-certification with the commission one business day before the initial listing.

"We've really come to the conclusion recently that cryptocurrencies are here to stay," John Deters, chief strategy officer of CBOE parent CBOE Holdings, told CNBC in a phone interview.

Deters said the bitcoin futures, once reviewed, will be available to both institutional and retail investors.

The Chicago Board Options Exchange does eye-watering amounts of business every day - so bitcoin futures on their exchange is a big deal.

The more future options we have the better for sure. Only Barry Silbert has set up a bitcoin futures as far as I know.

There's a prediction that says during 2017 we are going to see the first ETF. There's still some time for it to happen, but I think if it's not 2017, it will be next year. This will be a propulsion to $10,000++ easily, even if we are going to get there without an ETF, an ETF would cause an instamoon to $10,000+. But that's a double edged sword since it would mean a big correction would follow.

In any case, these things are good if they happen. The more wall street money gets involved the better. The bitcoin protocol  will remain the same, so let all that money in.

I don't think we're going to get an ETF. The SEC declined it earlier in the year because most of the prices are set on shady unregulated exchanges.

As long as Bitfinex and their Tether situation continue, and they continue to have a good chunk of bitcoin trading, the SEC will continue to say NO.

IMO, only when the bulk of bitcoin trading is done on regulated exchanges like Gemini and GDAX will an ETF be allowed.