Join- https://t.me/btctradingclub
Join- https://t.me/freebitmexsignals
https://play.google.com/store/apps/details?id=com.freecryptosignals.app
For more latest new update Crypto currency Training Crypto Mobile Trading APP Crypto auto trading BOT & Crypto trading Signals join above given telegram channel
CME Group’s Bitcoin-based futures trading is up 41 percent in quarter three, and CBOE Global is reporting similar results. Meanwhile, the cryptocurrency markets are still hanging on the unanswered promise of a bitcoin-based exchange traded fund (ETF).
The reassuring report, came after CME had reported lower trading volume with some significant dips. Average daily volume for CME Group is now upwards of 5,000 contracts for the third quarter of 2018, increasing from 3,577 contracts in quarter two, and 1,854 in the first quarter. Open interest is also higher than in quarter one or quarter two, at 2,900 contracts in the third quarter.
CBOE Group, who joined CME Group in the Bitcoin futures market in December 2017, is reporting similar results. CBOE Group’s trading has also increased in quarter three to 5,800 contracts, with open interest at around 1,750 contracts.
Despite CME Group’s success with bitcoin-based futures trading, the company is not currently planning to offer futures on any other cryptocurrency. CME Group’s CEO Terry Duffy told Bloomberg in July 2018 that due to the controversy surrounding the bitcoin-based futures launch, he was in no rush to add products based on other cryptocurrencies.
“I will take a wait and see approach with Bitcoin for now,” said Duffy.
As yet, that hasn’t changed, but if CME Group’s success with Bitcoin futures continues, who knows?
Suggested Reading : Learn more about Bitcoin in our beginner’s guide.
No Bitcoin-Based ETF – Yet
The investment product everyone is really waiting for is the so-called “holy grail”: a Bitcoin-based ETF. Yet the U.S Securities and Exchange Commission (SEC) has thus far refused to approve an ETF, citing concerns over Bitcoin price volatility and the possibility of market manipulation.
According to reports, nine Bitcoin-based ETF applications from financial organizations are pending with the U.S SEC. Its decision on these nine is due by November 5, 2018.
CNBC Crypto Trader host and analyst Ran Neuner believes Bitcoin prices are about to explode over the expectation of a Bitcoin-based ETF. Neuner