Cboe has confirmed that it will not be adding additional bitcoin futures contracts in March, though the company suggested that it is not completely ruling out future crypto derivatives. Cboe Global Markets was the first to roll out bitcoin futures in December 2017, at the height of the cryptocurrency boom.
In a statement released by the Cboe Futures Exchange, the company explained its plans:
CFE is not adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March 2019. CFE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading. While it considers its next steps, CFE does not currently intend to list additional XBT futures contracts for trading. Currently listed XBT futures contracts remain available for trading.
The introduction of bitcoin futures markets was praised by many within the industry, with advocates asserting that they would help bring institutional investors into the cryptocurrency markets. As CNBC noted in a recent article, however:
There has been little evidence of that happening in the form of crypto derivatives.