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CBOE will not list Bitcoin futures in March, Crypto derivatives need to be assessed

The Chicago Board Options Exchange (CBOE) will not add a new Bitcoin (BTC) futures market in March, the firm said in a statement on March 14.

According to the statement, CBOE is reassessing how this trading reaches near digital assets. CBOE said:

“CFE is not adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March 2019. CFE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading. While it considers its next steps, CFE does not currently intend to list additional XBT futures contracts for trading.”

The listed futures, XBTM19, will expire in June. CBOE notes that all the futures currently listed are still available for business.

In December 2017, CBOE started Bitcoin futures business, after which its competitors passed the Chicago Mercantile Exchange (CME).

Forward contracts give the investors the risk for an underlying asset – in this case bitcoin – without really needing any of themselves. Instead, investors buy contracts that track the underlying value of the asset and estimate that the contract price will increase or decrease by its expiration date. In the case of CBOE Bitcoin futures market, the difference is then fixed in the US dollar.

In the beginning of this week, a Bloomberg report said that the cost of bitcoin could be for another big sale. Analysts said that key technical indicators like Moving Average Convergence Diversions were moving down from mid-February. Bloomberg analyst Mike McGlone said:

“The entire industry is ripe to resume a path to lower prices. Conditions are akin to November [2018], just prior to the collapse…”


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