Bitcoin ETFs Are the Next Step After Futures
- Bitcoin price surges after CME announces plan for contract
- CME follows Cboe in disclosing plan for bitcoin futures
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Institutional investors drooling over the returns from bitcoin but barred from buying it will soon have their chance in the futures market and, eventually, exchange-traded funds.
CME Group Inc., the world’s largest exchange, said on Tuesday it plans to introduce bitcoin futures by the end of the year, following fellow Chicago exchange Cboe Global Markets Inc., while a startup, LedgerX, offers swaps and options. Bitcoin, the largest cryptocurrency climbed to a record after the announcement. It’s now up more than sixfold this year.