Cboe’s Debut Bitcoin Futures Expires
The debut bitcoin futures in the history of cryptocurrency has expired. The expiry took place last week on Wednesday. During the expiry, the timing is bad. On Wednesday, January 17, 2018, the price of the bitcoin shrinks. The price comes to hit the lows of $9, 199. This is the first and lowest in this year. The last time the coin was this low was on November 30, 2017. But it then quickly started to surge. Well, there is some similarity. After the expiry of the first bitcoin futures on Wednesday, the price moves up again. Although this time, it is not as fast as it did in December last year.
During the November 2017 shrinking of the bitcoin, it rises fast. Similar to the 2018 shrinking, the coin starts to surge after 24 hours. But there is a difference. At least people have seen what the difference is. In December, the price surges to hit bitcoin’s all-time high of $20, 000. During this year’s, it is barely getting past $12, 000 a week after it surged from its lowest. Back then, it jumped to $15, 000 after the launch of the first bitcoin futures. Well, it is time to see what happens next. For now, pay per head sites are still watching. But there is no reason to lose hope. Although the F8 has expired, the coin is trying to make a comeback. Besides, the digital coin is still the traditional crypto. As things are, it is hard to remove it from the mantle.
What now is remaining for Cboe? Bloomberg recently covered a press that seemed to address the issue. The statement said that there Cboe would continue active in the futures. However, it mentioned that it would center on other products. But the products will be built around the coins. Will this be soon? The press said that this is likely to take many months of working on the futures. So, if you were in a hurry, you better settle. It is going to take some time.
Cboe CEO Ed Tilly says that it is committed. But he was quick to hint that it’s going to take time. Ed said that there is something like an ETF, a durable product on the pipeline. But many things will be looked at. "Before you get into the mainstream of cryptocurrency, we need to get through a series of settlements. Also, this happens before that makes sense to regulators. Those boxes have to be checked. The process has to take place before there’s a mass roll-out of exchange-traded products," Ed said.
