Authored by Vittoria Onufrio
After a full day of trading, Bitcoin futures closed at $18,545 and gained almost 20%. The exchange was able to handle the trading activity since Sunday night with no unexpected interruptions. There were a couple of trading halt but this was expected as a part of the instruments necessary to curtail volatility already announced on the CBOE website. Ed Tilly, the CEO of CBOE, considers this first full day of trading a success even if the volume was roughly 3,000.00 contracts.
Why was the volume so low?
I would guess that since Bitcoin is reserved for larger investors, they are proceeding with great caution and some of them may want to wait and see before they enter the arena.
Additionally, not many brokers are offering Bitcoin Futures. Some of them are still undecided and others are approving accounts on a case by case basis. Eventually, the volume will build up and more brokers will be willing to give access to this market. This slow start will also give them time to familiarize themselves with this new product.
An important step in this direction is the launch of the CME Bitcoin futures next Sunday, not to mention that NASDAQ announced the launch of Bitcoin futures within the second quarter of 2018.
Bitcoin futures is becoming the legitimate and professional instrument for larger investors that allows trading with a certain degree of confidence in a regulated and surveilled exchange.
Please join us and take advantage of the bitcoin revolution.
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