Bitcoin Futures on the rise

Bitcoin is currently rising and many are wondering why. As of this writing, Bitcoin is worth around $7,403 according to major exchanges.

Bitcoin futures, on the other hand, seem to be experiencing a steady growth after the product was launched in December 2017, when Bitcoin was hitting $20,000. Both CBOE and CME launched Bitcoin futures.

According to a report by US News and World Report:

“The volume in trading bitcoin futures has been steadily rising since both the CME Group and Cboe Global Markets launched their futures contracts in December and as prices in physical trades of the digital asset stabilized.”

Another major exchange, Nasdaq, has also been rumoured to be thinking about Bitcoin futures. However, if they do offer such a product, it will be different from what is already offered by CME and CBOE.

ETF Trends and US News note several interesting statistics on Bitcoin future and the mass adoption of cryptocurrencies at some point.

First, the average volume per day on CME is little less than 2,900 contracts. In addition, many international investors have appetite for Bitcoin Futures, as approximately 30% are from outside the US, while around 18% come from Europe and 14% – from Asia.

With Bitcoin’s fluctuating price and the ongoing volatility of the market, there is no clear answer about the future of cryptocurrencies. Bitcoin futures are enjoying steady growth right now.

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Bitcoin Futures on the rise

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