On December 18, 2017, the Chicago Mercantile Exchange (CME) launched bitcoin futures. This was a watershed moment for cryptocurrency as it was the first time that a major financial institution offered investors a regulated way to bet on the future price of bitcoin.
The launch of bitcoin futures by the CME was seen as a major step forward in the mainstream adoption of cryptocurrency.
Prior to the launch of bitcoin futures by the CME, there were already a handful of other exchanges that offered similar products. However, these exchanges were comparatively small and unregulated.
NOTE: WARNING: Trading Bitcoin Futures carries a high level of risk, and may not be suitable for all investors. Before deciding to invest in Bitcoin Futures, you should carefully consider your investment objectives, level of experience, and risk appetite. The high degree of leverage can work against you as well as for you. You must be aware of the risks associated with trading Bitcoin Futures and must make an independent decision whether such trading is suitable for you in light of your financial circumstances.
The CME is one of the world’s largest financial exchanges, with a market capitalization of over $30 trillion. This made it the first major exchange to offer bitcoin futures, and gave the cryptocurrency market a much-needed boost of legitimacy.
The launch of bitcoin futures by the CME was met with great excitement by many in the cryptocurrency community. It was seen as a sign that institutional investors were finally starting to take cryptocurrency seriously.
The price of bitcoin surged in the weeks leading up to the launch of CME futures, and continued to rise throughout 2018.
As more institutional investors got involved in cryptocurrency, other exchanges followed suit and began offering their own bitcoin futures products. The CME remains one of the most popular exchanges for trading cryptocurrency futures, and its launch of bitcoin futures was a pivotal moment in the history of cryptocurrency.
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When it comes to Bitcoin, there are a lot of things that can impact the price. One of those is the CME Futures contract. But what does CME Futures mean for Bitcoin?
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Bitcoin futures contracts were first offered on the Chicago Mercantile Exchange (CME) in December 2017. CME Bitcoin futures are cash-settled and based on the CME CF Bitcoin Reference Rate (BRR), which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin.
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The answer may surprise you. CME Bitcoin Futures close at 4:00 pm Central Time on the last Friday of every month. This is one hour earlier than the close of regular futures contracts on other exchanges.
