The Chicago Mercantile Trade (CME) launched its futures contract in December 2017. This was across the identical time that Bitcoin (BTC) had reached an all-time excessive of $19,800, however by late 2018, the value had dropped to $3,100. Buyers in cryptocurrencies rapidly discovered that CME spinoff contracts allowed them to make bullish bets with leverage but additionally enabled them to wager towards the value, a apply often known as shorting.
Traditionally, the Securities and Trade Fee has rejected Bitcoin exchange-traded fund (ETF) proposals resulting from considerations about manipulation on unregulated exchanges. The rising significance of CME’s Bitcoin futures market may tackle this concern, and lately, Hashdex has even requested a Bitcoin ETF that depends on Bitcoin’s bodily trades inside the CME market.
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