The Bitcoin Futures will not hit the market in the month of March, stated the Chicago Board Options Exchange (CBOE) in an announcement yesterday. It seems as if the board is re-evaluating its approach towards the trading of digital assets. The BTC futures, XBTM19 that are still in the market will expire in June.
“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,” CBOE noted.
“Currently listed XBT futures contracts remain available for trading,” the exchange added.
The Chicago-based stock exchange became the first to introduce Bitcoin futures in the market. The move was whole-heartedly welcomed by the crypto community as the value of Bitcoin touched its peak at around $20,000 after the listing. CBOE’s rival exchange, the CME Group, also followed the suit to introduce a similar product within a week.
Despite the enthusiasm in the market, the boom was short-lived as the digital asset prices started to plunge from the next month. Since then, Bitcoin has lost 80 percent of its value and, as of press time, is trading around $3,930, according to Coinmarketcap.com.
Last month, a market report revealed that the volume of Bitcoin futures trading is sharply going down since mid-2018 but that doesn't affect the investors betting on this future instruments. The data showed the CME Group took over the BTC futures market share.