Menu IconA vertical stack of three evenly spaced horizontal lines. CME Group will bitcoin contract bitcoin futures in the fourth quarter.
The announcement has generated a lot of buzz on Wall Street, and sparked a big rally in the cryptocurrency. Futures, which allow two parties to exchange an asset at a specified price at an agreed upon date in the future, have been around since the late 19th century. The latter are referred to as cash settled futures. CME’s bitcoin futures will settle in cash. As futures get ready for trading, CME this week sent out a note setting out how the bitcoin futures will work.
Each contract is composed of five bitcoin. The long trading hours are typical of futures contracts that are traded electronically. There is a spot position limit of 1,000 contracts. Futures contracts always have limits on the number of contracts one person or entity owns. This prevents someone from being able to “corner the market. Get the latest Bitcoin price here.
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