The first bitcoin futures contract listed by Cboe has expired, a move that came amid a turbulent day of trading that saw the cryptocurrency's price drop below $10,000.
First listed in mid-December, the futures had a rocky start but ultimately those platform issues were resolved. The opening day for the contract saw the price climbing above $15,000.
Yet in the period of time after the F8 contract settled, bitcoin's price appears to be reversing the trend it has seen in the past two days. At press time, the BPI is reporting a price of $11,344.66 – a figure that is just several dollars above the day's open.
data suggests that the market for its G8 contract (set to expire on 2/14) is trading slightly below the market, with the firm's official website reporting a price of $11,220.00.
As for what the future will bring for Cboe's work in the cryptocurrency space, a recent press event covered by Bloomberg suggests that the company may explore products built around other coins – but that is likely to come after more months of work around the futures product.
Speaking to reporters, CEO Ed Tilly said that the process could lead to something like an ETF – a long-sought product – but only if regulators are firmly on board.
"Before you get into mainstream [exchange-traded products], we need to get through a series of settlements before that makes sense to regulators," Tilly was quoted as saying, adding:
Market graph image via Shutterstock
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