CBOE Will No Longer Trade Cryptocurrency Derivatives, Aims to Settle Last Contracts on June 19


  • On the 19th of June the Chicago Board Options Exchange (Cboe), the biggest options market in the world, will reportedly settle its last Bitcoin futures contract.
  • With the settlement of the last contract, Cboe will no longer trade cryptocurrency derivatives.

Cryptocurrency Derivatives on CBOE

Chris Concannon, who was the President and Chief Operating Officer of Cboe global market as at December 2017, announced the launch of Bitcoin futures, saying the crypto derivatives is the real game changer and will revolutionize the entire financial system and boost the global adoption of cryptocurrency. CBOE is the first exchange in the US to list Bitcoin futures.

He said :

“Over the next 10 years we believe that the cryptocurrency market will explode in terms of the assets that they touch, the currencies that they involve.”

Cboe Bitcoin Futures Closure Statement

The announcement of the closure of the Bitcoin futures market on CBOE was made in March 2019 when the company, in a statement said:

“CFE is not adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March 2019. CFE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading. While it considers its next steps, CFE does not currently intend to list additional XBT futures contracts for trading.”

Per the recent statement from Suzanne Cosgrove, the spokesperson of CBOE, the exchange has no immediate plan of adding any new cryptocurrency derivatives

“CBOE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading, but we have nothing new to announce at this time.”

Bitcoin Futures on CME

Back in 2017, following CBOE, the Chicago Mercantile Exchange (CME) also listed Bitcoin futures.

However, there has been no indication that they will be joining CBOE in delisting cryptocurrency derivatives. On the contrary, CME has recently witnessed a higher success rate than ever with about $90 million in contract settlements with exceeds the 24hr volume of CBOE.

On the 13th of May 2019, Chicago Mercantile Exchange (CME) saw a record high of 33,700 Bitcoin contracts, processing over a billion dollars in 24hrs.

CME and Cboe Pricing

This advantage of CME over CBOE is due to their pricing method, which is done by collecting data from various marketplaces, which resulted in the rise in the confidence of traders in the exchange, while CBOE relying simply on Gemini listing.

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