Cryptocurrencies
Ballyhooed Bitcoin Futures Contract Bows Out With a Whimper
- Final Cboe crypto contract expires at 2:45 p.m. CT on June 19
- Chicago exchange doesn’t plan to list any more contracts
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Just before 3 p.m. Chicago time on Wednesday June 19, a bit of Bitcoin fanfare will die.
That’s the moment the last Bitcoin futures contract on Cboe Global Markets Inc. will settle, with no more to follow. Only a year and a half ago, the then-president of Cboe, Chris Concannon, heralded the derivatives as game changers for finance, saying "Over the next 10 years we believe that the cryptocurrency market will explode in terms of the assets that they touch, the currencies that they involve." Cboe was the first U.S. exchange to list Bitcoin futures, followed shortly by CME Group Inc.