CME to Launch Bitcoin Futures, Causing BTC Price Surge (Again)
Exchange operator CME Group has announced plans to launch bitcoin futures this quarter.
The announcement by the largest futures trading provider in the world prompted a price surge for the currency, pushing bitcoin’s price to a record high (again) of more than $6,300 per BTC.
The launch of these futures is pending approval by regulators, according to Reuters. The futures contracts will be settled in dollars, according to the group.
CME’s statement, released today, reads:
The new contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR), which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. Bitcoin futures will be listed on and subject to the rules of CME.
Bitcoin’s price has continued to climb, now hovering at around $6,330 per BTC at 3:30 pm ET, according to Coindesk.
