CBOE Bitcoin Futures Launch Brings Price Surge



Monday saw the first full day of BCOE’s Bitcoin futures trading, as prices for the contracts surged throughout the day. The markets were so volatile that the exchange temporarily halted trading on two separate occasions early in the day, with one two-minute trading suspension and then a second halt that lasted for five minutes.

According to a report in The Street,

“The maiden futures contract, which settles for cash on Jan. 18, opened at a price of $15,460 and promptly fell $40 each until prices rebounded to as high as $18,850, according to CBOE data, before fading modestly to $17,54 by 06:50 eastern time with 2,785 contracts changing hands. Futures for delivery in February were last priced at $18,880 while those for March were seen $2,610 higher from their opening price at $19,040 each.”

Meanwhile, Bitcoin’s price surged as well, with the Coindesk Bitcoin Price Index recording a new high of $17,382.64 – a more than $2000 increase above its price at the start of the day. Other top cryptocurrencies also appeared to benefit, with several of the most popular digital currencies enjoying significant gains throughout the day.

The introduction of CBOE’s futures contracts also seems to have sparked interest in other markets, as shares of several cryptocurrency-related enterprises saw sharp price increases as well. Bloomberg reported that Overstock.com shares rose roughly 18 percent, while various Bitcoin and blockchain-related firms saw their own share prices rise by anywhere from 9 to 27 percent.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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