The Chicago Board Options Exchange (CBOE) has announced that its planned bitcoin futures product will begin trading on december 10. This memorandum is considered advertising under applicable state laws.
The move will subject some of the bitcoin market to federal regulation for the first time.
Naeem Aslam, Think Markets analyst, said that the reports Britain wants to hike regulation of bitcoin and other digital currencies.
The move is clearly meant to steal the thunder from fellow Chicago derivatives exchange CME, which announced on Friday that it will list bitcoin futures on December 18.
The cryptocurrency was last up 0.7 percent at $11,324.
The CEO is optimistic about bitcoin futures trading at CME as he stressed that they have worked closely with CFTC and interested parties to come up with a system that will provide investors with transparency, price discovery and risk transfer capabilities.
Bitcoin futures trading by Chicago derivatives exchange operator CME Group will be launched on December 18 as the path has been cleared recently thanks to the regulatory approval. Its price has jumped more than tenfold this year. But there are a couple of differences between bitcoin futures trading at the two exchanges.
Last week, a JPMorgan global markets strategist forecast that the introduction of bitcoin futures would legitimize cryptocurrency in the eyes of both institutional and retail investors, transforming the cryptocurrencies into "an emerging asset class". Several media outlets have suggested that the Nasdaq Stock Market will also soon begin trading futures of the digital currency, but the exchange has not yet confirmed that.
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