Cboe sees highest volume for bitcoin futures since their introduction | finder.com

Cboe sees highest volume for bitcoin futures since their introduction

Peter Terlato 27 April 2018 NEWS

18,210 contracts for May futures were traded yesterday, as well as 703 June contracts and 87 July contracts.

Bitcoin futures are currently trading at their most voluminous levels since launching in mid-December last year.

In a crypto-market update, Cboe Options Institute senior instructor Kevin Davitt revealed that bitcoin futures trading on Wednesday was three times higher than the average daily volume (ADV) of around 6,600 trades.

“Yesterday was the highest daily volume for bitcoin futures since their introduction here at CBOE nearly five months ago,” Davitt said during the round-up broadcast. “The lead month May futures traded 18,210 contracts and across the term structure a total of 19,000 bitcoin futures traded here yesterday. The previous high-volume session was January 17 with just less than 15,500 contracts traded.”

18,210 contracts for May futures were traded yesterday, as well as 703 June contracts and 87 July contracts.

Earlier this week, on Monday, bitcoin futures traded at 3,881 and rose to 6,653 on Tuesday. Thursday’s volume returned to normality, slipping to 5,634 contracts, meaning Wednesday’s figures were an extreme deviation.

“I’ve mentioned before, when it comes to bitcoin futures and volatility in general, it’s all relative,” Davitt said.

Cboe Futures Exchange (CFE) launched bitcoin futures trading on December 10 under the ticker symbol “XBT”.

Chicago Mercantile Exchange (CME), who also began trading bitcoin futures in December, saw an unusually high volume of trade on Wednesday, reporting a daily exchange of 11,202 contracts.

However, these were split very differently to Cboe’s trades. 10,346 April contracts were traded, along with 795 May futures, 58 June futures and just three September futures contracts.

Long-term future pricing options has been touted as a vote of confidence for the virtual currency economy, potentially paving the way for less market volatility and further increased investment over time.

Earlier this week, CFE petitioned the Commodity Futures Trading Commission (CFTC) to lower the minimum buy and sell prices of its futures contracts, just a few months after officially launching the products.

Late last month, Cboe urged the Securities and Exchange Commission (SEC) to permit the advancement of cryptocurrency exchange-traded funds (ETFs) in the same way that commodity-related products are allowed.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

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