CBOE GLOBAL Markets has announced the launch of trading in the new futures of CBOE FTSE Bitcoin, which expands its wing from organized cryptocurrencies derivatives. Future contracts are based on the FTSE Bitcoin (Ticker: XBTF).
Contracts began trading on Tuesday on the CBOE FUTERES Exchange (CFE), as it was presented by Bitcoin’s cash print through the FTSE Bitcoin’s reduced value index.
The Exchange reported that new XBTF futures provide institutional and professional investors tool to obtain or hedge from bitcoin exposure. XBTF futures are stable cash contracts.
“With the continued high demand for customers on encryption derivatives, CBOE is committed to building a well -recycling environmental system to help facilitate the most efficient and flexible access to bitcoin exposure and risk management,” said Catherine Clay, head of global derivatives at CBOE.
The launch complements the current digital assets of CBOE, including the Instant Bitcoin Investment Funds and the cash options on the CBOE Bitcoin US ETF index.
Products can be used to manage market risk or implement advanced strategies. All are wiped through Clearing Corporation (OCC).
The market participants welcomed development. Barack Capital said it would serve as a liquidity provider, while Prime Trading praised the move as part of a wider effort to provide a “better trading experience in its class.”
The future contracts are settled on the last work day of each month and reflects 1/10 the value of the Bitcoin FTSE index.