For the first time, Bitcoin has started trading on a major exchange. Bitcoin made its debut on the CBOE futures exchange in Chicago, enabling investors to bet on whether Bitcoin prices will rise or fall.
Bitcoin has sent shockwaves through the financial industry as it continued to break records this year. The futures contract, that expires in January 2018 saw a rise to $18,800 on Monday morning, from their opening level of $15,000.
Over the last five years, the total value of all bitcoin has grown from less than $1bn to over $262bn. The total value of all cryptocurrency tokens outstanding is now approximately $423.7bn.
CBOE said: “We are committed to continue to work closely with the CFTC to monitor trading and foster the growth of a transparent, liquid and fair Bitcoin futures market.”
CBOE offers trading across a diverse range of products in multiple asset classes and geographies. Futures are a financial product that allows trading based on movements in Bitcoin prices.
CBOE’s trading venues include the largest options exchange in the US and the largest stock exchange by value traded in Europe.