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December 08, 2017, 12:33:09 PM |
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Goldman Sachs announced plans to clear Bitcoin futures trading for select clients, according to Bloomberg.
Clearing may create smoother and more efficient markets in the volatile world of cryptocurrency. Bitcoin derivatives allow traders to bet on BTC’s price without buying the actual asset. CBOE Futures Exchange will offer Bitcoin futures contracts starting December 10th. CME Group will offer its own version on December 18th.
Commodities futures markets, such as oil or copper, aren't very useful without big banks and brokerage firms using the clearinghouses to trade. As digital currencies enter the futures market, clearinghouses will help to merge the world of cryptocurrency with more traditional commodities. As more investors speculate on the value of the currency, the exposure could lead to greater acceptance of Bitcoin and other cyptocurrencies like it.
more:https://dowbit.com/goldman-clear-bitcoin-futures-select-clients/
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