CME Group, a derivatives marketplace announced that it intends to launch bitcoin futures in the fourth quarter of 2017 pending regulatory review. Here is the full press release.
I noticed the price was jumping today on Halloween and wondered why. This appears to be it.
According to their bitcoin futures product, they take an aggregate global demand to buy and sell bitcoin into a consolidated order book. It reflects the fair, instantaneous U.S. dollar price of bitcoin, globally.
The addition of bitcoin futures trading is huge news for the world of bitcoin.
Hang on (hodl) for the ride, ladies and gentlemen.
We will see ya on the moon.
Here’s a thread on reddit about the news.