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Bitcoin (BTC) is trading at around $3,583. Meanwhile, futures contracts have recorded a discount of more than $100 as these derivatives contracts of February delivery are currently being traded for $3,480 while articulating. March contracts are being traded for $3,445 levels, while June futures are being traded for $3,445.
Bitcoin futures were made available during late 2017 by CME, such instruments have been available for trading on the CBOE Futures Exchange, LLC (CFE) as well. The trading in CBOE bitcoin futures has been unveiled by CFE under the ticker symbol "XBT" (contract specifications fact sheet.)
The CEO of the largest options exchange of the US, CBOE, Ed Tilly, reckons that the lack of exchange-traded notes (ETNs) facility hinders the prospects of Bitcoin (BTC) as an investible asset class.
He conversed about apprehensions of the current growth of the Bitcoin derivatives market, hinting that trading activity hasn’t considerably improved since its launch back in December of 2017.
In addition to that, a lack of retail investor accessibility is another issue in this space, to address this burning issue, Tilly projected an idea that more ETNs to intensify the impetus of investors’ sentiments in the cryptocurrency.
While the US SEC has been very meticulous in regulating the entire crypt-asset space to safeguard the investor class. The US SEC, back in 2018, momentarily deferred and declined the trading of two ETNs, Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF).
Well, while this trading mechanism likely to facilitate the traders with huge benefits, like, efficient price discovery, ease of liquidity, transparency, and centralized custodian services. XBTfutures provides a centralized marketplace for participants to trade based on their view of bitcoin prices, gain exposure to bitcoin prices or hedge their existing bitcoin positions.
Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at -123 levels (which is bearish), hourly USD spot index was at 161 (bullish) while articulating at (09:07 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
