The new futures soared 20% on their debut yesterday, which forced exchanges to halt trading.
The most recent chapter in the bitcoin saga finally landed yesterday as the markets welcomed the world’s first bitcoin futures. However, Wall Street was seemingly unprepared for the wild price swings that lay crypto investors have come to accept as normal. Cboe Global Markets, one of the world’s largest exchanges, was forced to halt trading twice due to “heavy traffic”. So far, due to tight risk limits, only a handful of investors have been permitted to purchase the new futures. Next week, Cboe’s rival, CNE Group will launch its competing bitcoin contracts, which should further stir up the market.
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