Bitcoin surges past $24,000 on CME launch of BTC event contracts
Bitcoin futures on CME have traded 550,000 contracts since inception. On Mar. 13, American derivatives marketplace CME announced the launch of Bitcoin (BTC) futures event contracts . The exchange, which is fully regulated and has cleared administrative review, will henceforth facilitate cash-settled, daily expiring contracts tied to Bitcoin futures with a "lower-cost way for investors to trade their views on the up or down price moves of bitcoin." Tim McCourt, global head of equity and FX products at CME Group, commented: Our new event contracts on Bitcoin futures provide a limited-risk, highly transparent way for a wide range of investors to access the bitcoin market via a fully regulated exchange. These cash-settled, daily expiring contracts will further complement our existing suite which have traded more than 550,000 contracts to-date. On Mar. 10, Cointelegraph reported that asset manager VanEck's spot Bitcoin trust application was denied by the U.S. Securities ...