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CBOE Makes A U-Turn on Crypto Product Offerings As CEO Sees Market Opportunity Ahead

Smelling a huge market opportunity ahead, CBOE  is looking to get back with its cryptocurrencies offerings. The Chicago Board Options Exchange (CBOE) is one of the early players in the crypto space.
Back in December 2017, CBOE was the first to launch its Bitcoin futures cash-settled contracts in competition with the CME. However, in June 2019, CBOE decided to withdraw its BTC futures while settling its last contracts. CBOE has taken a few back-and-forth decisions when it comes to its participation in the cryptosphere.
Last December 2020, CBOE entered into the crypto market data business by joining hands with CoinRoutes Inc. the two are now planning to launch their own cryptocurrency index by Q2 2021.
In a phone interview with Bloomberg, CBOE Chief Executive Officer Ed Tilly said that is making fresh efforts to bring new crypto products into the crypto space as the market matures and demand for institutional products increases. Speaking about Bitcoin Futures, Tilly said:
“We’re still interested in the space, we haven’t given up on it. We’re keen on building out the entire platform. There’s a lot of demand from retail and institutions, and we need to be there.”
Fresh Opportunity In the U.S. Bitcoin ETF Space
Financial institutions in the U.S. have joined the race for introducing the first Bitcoin ETF in the country. Fidelity Investments is the latest to apply for a Bitcoin ETF with the U.S. SEC. Over the last two years, the securities regulator has rejected dozens of applications.

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