Cboe’s new move comes as many Wall Street giants are starting to reopen their doors to cryptocurrencies.
The Cboe exchange is about to support BTC and ETH futures contracts with margin. Photo: Il Blocco
According to a notice published on November 13 (US time), the Chicago Board Options Exchange (Cboe), the leading options exchange in the US, said it will support Bitcoin (BTC) and Ethereum (BTC) futures contracts ( ETH) in escrow starting from January 2024.
Cboe announced that it will become the first licensed trading platform in the United States to combine trading and settlement operations for leveraged cryptocurrency futures trading products.
Cboe Digital today announced plans to launch margin futures trading and clearing on Bitcoin and Ether, effective January 11, 2024. Cboe Digital will become the first regulated crypto-native combined exchange and clearinghouse in the United States to allow both spot and leveraged derivatives…
— Wu Blockchain (@WuBlockchain) November 13, 2023
The exchange is expected to receive support from market makers including B2C2, BlockFills, CQG, Cumberland DRW, Jump Trading Group, Marex, StoneX Financial, Talos, gustosotrade, Trading Technologies and Wedbush for the above new product.
Currently, Cboe supports futures trading for BTC, ETH, BCH, LTC, and USDC.
The exchange also said it will introduce additional futures derivatives products with transfer of real cryptocurrencies upon expiration, but is awaiting approval from regulators.
John Palmer, president of Cboe Digital, said:
“We believe derivatives will bring additional liquidity and hedging investments to the cryptocurrency sector, representing the next evolution of the industry.”
In addition to Cboe, several Wall Street giants have recently made moves to get back into the cryptocurrency space, including efforts to create an ETF. including BlackRock, VanEck, Bitwise, WisdomTree, Valkyrie, Fidelity, Invesco, ARK Invest, Global X, Hashdex, Franklin Templeton, and Grayscale.
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