Chicago Board Options Exchange has announced to launch its bitcoin derivative products soon next year. CBOE has gone through an agreement with Gemini trust regulated by the New York State Department of Financial Services (NYSDFS).The digital currency exchange founded by the Winklevoss brothers that trade bitcoin and ether is one step closer to make first ever bitcoin ETF.
If,everything goes well it could bring more regulation and stability to the largely unregulated cryptocurrency ecosystem.It would be great and acceptable for investors and hedge fund managers to invest in bitcoins.
“We very much look forward to responding to the growing interest in cryptocurrencies through the creation of bitcoin futures traded on a regulated derivatives exchange with the many expected benefits that this brings, including transparency, price discovery, deep liquidity and centralized clearing,” said CBOE Holdings Chairman .
While,Tyler Winklevoss, CEO of Gemini said,”Gemini’s key concerns in the cryptocurrency ecosystem have always been security, compliance, and regulatory oversight.By working with the team at CBOE, we are helping to make bitcoin and other cryptocurrencies increasingly accessible to both retail and institutional investors.”
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