The launch of the first futures on Bitcoin in December 2017 was a highly anticipated event. It would seem that trading on the CBOE and CME should engage industry more large investors. In fact, everything turned out exactly the opposite — even after almost a year after the launch of futures for cash remain not very popular trading tool. So what went wrong?
What will happen to the futures
The majority of cryptoendoliths believed that the beginning of futures trading will give Bitcoin another impetus to growth. A few days later they were faced with a disappointment — Bitcoin fell just a few thousand dollars, thus the beginning of a corrective phase of the entire stock market. Recall that in that time the popularity of the digital asset has reached its peak. About Bitcoin and altonah told at every corner, and in the media every day publishes information on new digital records cryptocurrency.
According to Bitcoinist, the beginning of futures trading could be one of the reasons for the current bear market. And yet in August 2017 Chicago Board options exchange reported a sixfold increase in trading volumes of Bitcoin futures. As you can see, this has not led to significant growth of the cryptocurrency.
According to the Vice-President of Department on work with cryptocurrencies in Chicago’s Trading Technologies International Michael Antica, the stock market just was not ready for futures. Even the increase in trading activity on the CME in the second and third quarters of 2018 not materially affected situations. Now on the exchange traded an average of 5,000 contracts a day, while the futures market for gold and oil “processes” 18 million contracts every day.
However, you should not consider launching a Bitcoin futures complete failure. Many currently successful products was a slow start. Hopefully, institutional investors will enter the market after 12 December. We will remind, this day on the platform Bakkt from the largest network of US exchanges appear another futures on Bitcoin, cryptocurrency backed by real.
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