CBOE plans to launch bitcoin futures, announces agreement with Winklevoss brothers’ digital currency exchange

Finance


The Wall Street Journal first reported news of the agreement Tuesday.

“We very much look forward to responding to the growing interest in cryptocurrencies through the creation of bitcoin futures traded on a regulated derivatives exchange,” CBOE Holdings Chairman and CEO Ed Tilly said in a release.

CBOE Holdings’ other subsidiaries include the Bats exchanges.

In late April, the U.S. Securities and Exchange Commission said it would review its rejection of the Winklevoss brothers’ application to list a bitcoin exchange-traded fund on the Bats BZX exchange.

The SEC declined to comment.

“By working with the team at CBOE, we are helping to make bitcoin and other cryptocurrencies increasingly accessible to both retail and institutional investors,” Gemini CEO Tyler Winklevoss said in the release.

On July 24, the CFTC announced it approved digital currency-trading platform LedgerX for clearing derivatives, which would mark the first federally supervised options venue for bitcoin.

LedgerX said at the time it plans to launch bitcoin options in early fall for institutional investors, although those firms could, in turn, offer retail investor products.

Bitcoin has more than doubled in value this year, while rival digital currency Ethereum has gained more than 2,000 percent. The value of all digital currencies has jumped from around $20 billion at the beginning of this year to more than $100 billion, according to CoinMarketCap.



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