Bitcoin futures will disappear from the CBOE listing after June 19,

The expiration of the latest Bitcoin futures on the Chicago Stock Exchange (CBOE) will take place on June 19 by 3:00 pm Chicago time, reports Bloomberg .

CBOE became the first regulated exchange to launch urgent financial instruments based on the first cryptocurrency on December 11, 2017, when Bitcoin was steadily approaching its historical maximum near the $ 20,000 mark.

The red circle marks the start of bitcoin futures on Cboe about a week before the sharp turn of the market

Then CBOE President Chris Concannon said the following:

“We are confident that over the next 10 years the cryptocurrency market will experience explosive growth that will affect its associated assets”

Following the CBOE, a week later, CME launched similar derivatives. Almost immediately after this, contrary to the optimism of many market participants, the price of Bitcoin began a long decline. Only in the beginning of 2019, bitcoin and other cryptocurrencies began to give convincing signs of recovery, signaling the end of the bearish phase of the market.

Also note that the last one and a half years the trading volume of bitcoin futures on CBOE was significantly lower than on the larger CME trading platform. In March, it became known that the Chicago Stock Exchange is going to interrupt trading in derivatives based on "digital gold".

Meanwhile, in this context, the CME is doing well. In particular, May was the most successful month for Bitcoin futures on this exchange.

For example, the amount of open positions on this exchange on the last day of May reached a historical maximum of 5,190 contracts. The average daily trading volume also rose rapidly last month, exceeding 13,604 contracts (or about $ 515 million in notional value ).

Compared with April last month, the growth in trading volume was 36%. In annual terms, growth was 250%. In addition to the growing turnover, CME announced the emergence in May of 223 new accounts trading in bitcoin futures, which clearly indicates a revival of interest in new assets in the camp of institutional investors.

According to BitcoinTradeVolume , the daily trading volume for Bitcoin futures is currently $ 230.2 million.

For comparison, the volume of spot trading cryptocurrency on the 10 largest sites with real volumes currently stands at $ 937 million:

As before, with a large margin ahead of all Binance.

Previously, BlockchainJournal published a card about what bitcoin futures are, what they are for and what are their features.

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