World’s leading options trading platform CBOE Global Markets is planning to re-enter the cryptocurrency derivatives market after a few failed attempts in the past, according to a report by Bloomberg.
Despite multiple setbacks, CBOE maintained that it hasn’t given up on the crypto space, and is still interested in developing crypto-based products, especially now that the demand for such products is on the rise. CEO Ed 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.”
The high interest in cryptocurrencies especially since the second half of 2020, has increased investments in the crypto market, and particularly from institutional investors. Top entrepreneurs like Elon Musk, Jack Dorsey, Michael Saylor, and numerous others have committed considerable stakes of their companies to Bitcoin as a sound reserve asset.
CBOE Has Tried the Crypto Market Severally
CBOE and CME (the world’s leading futures exchange) are the biggest derivatives markets in the world. But unlike CBOE, CME has seen more success in the crypto market as the biggest futures trading exchange for Bitcoin and more recently Ethereum.
Additionally, CBOE was the first US exchange to launch bitcoin futures in December 2017, and the last of its Bitcoin futures contract settled in June 2019. After the first failed attempts, other announcements followed in September 2019 (to launch in 2020) and December 2020. The latter announcement at the …
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