It has been more than a year since the CME, a widely respected financial exchange market, launched a derivative trading product for Bitcoin speculators who are not too comfortable with putting too much “skin in the game.” Bitcoin futures contracts were expected to bring Wall Street investors closer to the world of cryptocurrencies, and they were almost simultaneously released by the CME as well as the Chicago Board Options Exchange. After a short-lived fanfare debut, Bitcoin futures contracts failed to live up to their initial hype; however, they have been influential in the mini-rally of April 2019.
Bitcoin Investment Volume
Cryptocurrency enthusiasts would prefer for CME investors to take the plunge, open digital wallets and put their money into tokens; after all, the aforementioned $563 million is a respectable amount when considering that the major digital currency exchanges traded about $684 million worth of BTC on April 4. Major Wall Street players such as institutional investors are known to be attracted to derivatives and proxy instruments when the underlying securities are considered to be exotic or too volatile, and this is the reason why the Intercontinental Exchange Group, owner of the New York Stock Exchange, is pushing for approval of a fully settled BTC futures contract.