CBOE’s chief executive has shot down complaints against the launch of its bitcoin futures market, labeling them a “cheap shot”.
Hong Kong’s securities regulator has published a new circular centered on bitcoin futures contracts and cryptocurrency-related investment products.
A London-based digital payments company is allowing its customers to buy, hold, and exchange bitcoin and other digital currencies through its mobile app.
JPMorgan CEO Jamie Dimon might consider bitcoin to be a “fraud” that “will not end well,” but one of his top strategists anticipates that the launch of bitcoin futures could turn cryptocurrencies into “an emerging asset class.”
As reported by CNBC, Nikolaos Panigirtzoglou, a global markets strategist at JPMorgan, said Friday that the addition of bitcoin futures contracts to regulated trading platforms will lend credibility to cryptocurrency, making it more appealing to both institutional and retail investors.
Chicago derivatives exchange operator CME Group has announced that it has self-certified the initial listing of its bitcoin futures contract to launch on December 18.
CME Chairman and CEO Terry Duffy made the historic announcement on Friday, revealing that the exchange has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to begin trading bitcoin futures in just a little over two weeks:
“We are pleased to bring Bitcoin futures to market after working closely with the CFTC and market participants to design a regulated offering that will provide investors with transparency, price discovery, and risk transfer capabilities,” said Duffy.
The $6.831 trillion stock market Nasdaq, the world’s second-largest stock exchange behind New York Stock Exchange, will enable bitcoin futures trading by mid-2018.
Nasdaq and Cantor to Integrate Bitcoin by First Half of 2018
A Wall Street Journal report revealed that Nasdaq and Cantor Fitzgerald & Co.
Nasdaq is reportedly looking to get in on the action of Wall Street’s frenzied rush to trade bitcoin.
According to the Wall Street Journal, Nasdaq, the world’s second largest stock exchange by market capitalization, is aiming to launch bitcoin futures contracts in the first half of 2018.
An excerpt from the report reads:
Nasdaq’s bitcoin contract would debut on Nasdaq Futures, or NFX, a marketplace that the New York-based exchange group launched in 2015 that until now has mainly focused on energy trading, according to the people familiar with the situation.
Square’s Cash app, which facilitates payments among friends, recently gave some of its users the ability to buy and sell bitcoin, in a move that according to Sarah Friar, the company’s CFO and operations lead, was about Square’s innovation, not bitcoin’s validation, as the company listens carefully to its customers when new products are launched.
Shinhan, the second largest commercial bank in South Korea by market valuation and consumer base, has initiated the testing phase of its bitcoin vault and wallet services.
Why a Major South Korean Bank Decided to Launch a Bitcoin Vault and Wallet Platform
A representative of Shinhan Bank told Naver News, a media outlet operated by South Korea’s most widely used search engine, that the bank has come to a corporate decision to launch a bitcoin vault and wallet platform as a response to the recent hacking attacks of leading South Korean cryptocurrency exchanges including Bithumb.
As bitcoin continues to gain in value, wealth managers are finding themselves being questioned about the asset and whether they should invest in it.
One such company that is experiencing this is Cumberland Advisors, based in Sarasota, Florida. In an interview with Bloomberg, David Kotok, co-founder, chairman and CEO of Cumberland Advisors, said that clients are frequently asking them about the digital currency.
JPMorgan’s CEO might think bitcoin is a “fraud,” but that doesn’t mean the company will preclude the opportunity to reap a profit by helping clients trade bitcoin futures.
According to a Wall Street Journal report, the financial services behemoth is holding conversations about potentially facilitating client trades of bitcoin futures contracts once they launch on U.
Sarah Friar, CFO and operations lead at Square, told CNBC that her company’s recent move to enable bitcoin trading stands as a testimony to its innovation as opposed to a validation of bitcoin, according to a recent report.
Square’s cash app, which is used for payment among friends, is testing the ability to buy and sell bitcoin, a benefit that could make bitcoin easier to trade for a huge swath of the population, particularly younger consumers.
A London-based fintech startup is planning on launching a prepaid Visa debit card, giving users the option to spend a range of cryptocurrencies across the U.K.
On Tuesday, the London Block Exchange (LBX) launched, headed by an 18-year Credit Suisse veteran. Future plans with the fintech company include launching a sterling-to-cryptocurrency exchange in addition to a Visa prepaid debit card, called the Dragoncard, reports Business Insider.
Swiss financial houses Vontobel AG and Leonteq Securities AG have today launched separate products to allow investors to bet on bitcoin price drops.
Swiss asset management firm Vontobel is launching the country’s first two mini futures to bet against the price of the world’s most prominent cryptocurrency. First reported by Reuters, the two futures will see their launch today on SIX exchange, Switzerland’s principal stock exchange.
Bitcoin futures contracts are scheduled to launch in one month on the world’s largest derivatives exchange, and market analysts have nothing to fear.
That’s according to Terry Duffy, chairman and CEO of the Chicago-based CME Group, which will soon become the first licensed U.S. derivatives exchange to list bitcoin futures contracts. Speaking with CNBC, Duffy revealed that CME plans to launch bitcoin futures trading during the second week of December.
A bitcoin startup in a New Zealand is making the process of adopting bitcoin easier for new users via a dedicated savings platform.
As bitcoin price soars new all-time highs in an unprecedented boom, the world’s most popular cryptocurrency is gaining awareness among retail investors globally. In New Zealand, a bitcoin startup called ‘My Bitcoin Saver’ is brokering the process of buying the cryptocurrency through an offshore exchange to deliver bitcoin on a weekly basis.
“When you deposit your money to us with your reference number on a Monday, we wait for the bank to clear it and then send it to Europe’s biggest Bitcoin exchange where we buy Bitcoin that Friday,” explains BitcoinSaver on its website, before sending users their bitcoin to their own nominated wallets.
CME Group chairman emeritus Leo Melamed is bullish on bitcoin, predicting the cryptocurrency will go on to become a new asset class alongside gold and traditional stocks.
Leo Melamed, widely recognized as the founder of financial futures and the former chairman (chairman emeritus) of the CME Group, sees bitcoin going beyond being a cryptocurrency to becoming a new asset class in its own right.
In an interview with Reuters, the legendary financial figure spoke about the CME Group’s plans to launch bitcoin futures contracts this year.