CME announced Friday its fresh bitcoin futures contract will be available for trading on Dec.18.
The CME announcement came as the Commodity Futures Trading Commission said in which will allow the globe’s largest futures exchange in addition to its competitor, the Cboe Futures Exchange, to launch bitcoin contracts. Cantor Exchange also self-certified a fresh contract for bitcoin binary options, the commission said.
Bitcoin traded more than 6 percent higher at $10,539 on Friday, recovering partly through a 20 percent drop to $9,021.85 through a record high of $11,377.33 hit Wednesday, according to CoinDesk.
“I think in which is actually going to enable finally the approval of bitcoin ETFs, in addition to various other digital currency ETFs, which is actually game changing,” Barry Silbert, founder in addition to CEO of Digital Currency Group, said on CNBC’s “Squawk Box.”
Bitcoin in which week
CME’s announcement comes as various other major exchanges rush to launch their own bitcoin derivatives products.
Shares of CME spiked 1.7 percent to an all-time high Friday morning. Cboe’s stock traded little changed after setting a record close Thursday.
The CFTC does not approve derivatives contracts or endorse their underlying assets.
“Commission staff held rigorous discussions with CME over the course of six weeks, CFE over the course of four months, in addition to had numerous calls with Cantor,” a CFTC Discharge said.
“Bitcoin, a virtual currency, is actually a commodity unlike any the Commission has dealt with from the past,” CFTC Chairman J. Christopher Giancarlo said in a statement. “As a result, we have had extensive discussions with the exchanges regarding the proposed contracts, in addition to CME, CFE in addition to Cantor have agreed to significant enhancements to protect customers in addition to maintain orderly markets.”
In a separate Discharge Friday, Cboe said in which has filed a product certification with the Commodity Futures Trading Commission to offer bitcoin futures trading. The certification is actually subject to regulatory review in addition to a launch date “will be announced shortly,” according to a Discharge.
A Cboe spokesperson initially told CNBC the bitcoin futures launch is actually expected “probably before the end of the year,” although later clarified, saying the exchange couldn’t be in which specific. “We are operationally ready in addition to we will be announcing a launch date shortly,” the spokesperson said in fresh statement.
Nasdaq plans to launch bitcoin futures as early as the second quarter of 2018, exchange officials told CNBC on Thursday. Nasdaq could base its cost off of 50 bitcoin sources through around the globe, while Cboe is actually currently using one in addition to the CME is actually using four, a Nasdaq spokesperson said.
Nasdaq shares traded mildly higher after closing at a record Thursday.
— CNBC’s Bob Pisani contributed to in which report.