Published on November 14th, 2017 | by bitcoin0
CME CEO declares bitcoin futures are going to list second week in December
CME announced on Oct. 31 it would launch bitcoin futures by the end of the year, pending regulatory review.
The futures contract will be cash-settled according to the daily settlement price of the CME CF Bitcoin Reference Rate (BRR), which tracks a few major bitcoin exchanges.
If a trader sells a futures contract in anticipation of a decline in bitcoin, the trader locks in a gain if bitcoin subsequently drops.
Digital currency enthusiasts see the launch of bitcoin futures as another step towards establishing bitcoin as a legitimate investment asset.
Bitcoin futures could also pave the way for a bitcoin exchange-traded fund.