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 now awaits CFTC’s ‘go ahead’ - EconoTimes)
The new cryptocurrency start-up established by the Intercontinental Exchange (ICE), is all set to launch bitcoin futures contracts which would be first physically delivery facilities.
Well, the announcement has been confirmed in the recent past by ICE, that would offer new tracks especially for institutional clients and retail traders to make an access for cryptocurrency trading. ICE, which also operates the New York Stock Exchange (NYSE) released the latest specifics about this development.
The Intercontinental Exchange appears to be on a quest to make Bitcoin investing easier. The company is said to be in advanced discussions with the US CFTC regarding the launch of physically settled Bitcoin futures.
Rumors about a cash-settled bitcoin futures contract are circulating since early autumn. In the last days of November, the ICE announced a prospective date for the launch which is set to the 24thof January. The plan is still subject to regulatory approval.
Bakkt, ICE’s “regulated ecosystem” for institutional investors intending to obtain exposure in cryptocurrency-space, that will offer futures against at least three predominant fiat currencies: the U.S. dollar, British pound sterling and euro, according to a document released October 22nd.
The derivatives instrument would be physically-settled and cleared by ICE, as per the document.
It further elucidates: “Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse, and will trade in U.S. dollar terms. One daily contract will be listed for trading each Exchange Business Day.”
The launch of the contracts on part of the CBOE and CME triggered a bearish rout since Jan’2018, that plummeted-off the prices over 82 percent of the value of the leading cryptocurrency. Adoption hinges on more regulation and changes to the definitions of securities.
Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 108 levels (which is bullish), hourly USD spot index was at -5 (neutral) while articulating at (13:08 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
