American derivatives exchange CBOE is celebrating a new record in the trading volume of the Bitcoin futures, which was new in the past year. On Wednesday, the stock exchange managed to sell just under 19,000 contracts – three times an average trading day. Even competitor CME doubled its sales figures. It is unknown where the sudden investment anger of the customers stirs.
Bitcoin futures are in demand like never before: As the market data of the futures exchanges CBOE and CME shows, the interest in the Bitcoin-based futures contracts of these days could hardly be higher.
On Wednesday, the sales figures of both exchanges suddenly shot up in the air. While CME doubled its sales, CBOE even experienced the highest level of traded contracts since its launch five months ago. Thus, the stock exchange managed the sale of a total of almost 19,000 contracts, three times the usual trading day.
“Yesterday we experienced the highest daily volume of Bitcoin futures since their launch here at CBOE almost five months ago. The average daily volume is 6,600 XBT Bitcoin futures sold. Yesterday [Wednesday], the trading volume was threefold “,
reports Kevin Davitt of CBOE in a social media video of the stock market’s memorable trading day.
According to information, 18.210 contracts were sold on Wednesday, 703 on June and 87 on July dated contracts. By contrast, the previous sales record was 15,500 contracts at the end of the first sales round in January, Davitt said.
The fact that the sales boom will have hit the stock exchanges relatively unexpectedly is shown by the look at the sales statistics of the previous weekdays. On Monday of this week, for example, under 3,881 fewer than average contracts were awarded.
For while the trading record in January still initial hype may have played a significant role with the end of the first round of sales, were on Wednesday no such relevant expiration dates on the agenda. Monthly buying customers are thus excluded for the jump.
Last December, the Chicago futures exchanges CBOE and CME launched the Bitcoin Futures contracts. Futures derivatives are exchange traded forward contracts. They require the buyer to deliver or buy a certain amount of Bitcoin at a specific future time at a specified price or exchange rate. With the futures from CBOE, for example, course bets with terms of several weeks, months, but also on a quarterly basis are possible.
Basically, futures on the stock market are considered to be highly risky, because they can generate large profits in no time, but at the same time make huge losses.
While more and more stock exchanges around the world are targeting Bitcoin futures for their clients, the CBOE is already planning the next coup. So, Chicago wants to expand their offer with so-called Exchange Traded Funds (ETFs). Such contracts would allow investors to bet on the development of the Bitcoin price. The competent US authority Securities and Exchange Commission, however, has so far always rejected listing requests or postponed decisions. In particular, it considers the still young Bitcoin market to be “non-liquid” enough and difficult to value.
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