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Cboe Bitcoin Futures Expiring Today, Will Bitcoin Rise Just Like in December?

The Bitcoin futures contracts by Cboe are expiring today. Last time on December 19 when Cboe’s bitcoin futures expired, Bitcoin went from 3,540 to $3,950. Will, Bitcoin see the similar effect this time as well? Bitcoin Price Effect Bitcoin is currently trading around $3,679 with a loss of 0.15 percent in past 24-hours as per the data provided on Coinmarketcap. The leading cryptocurrency is currently managing the daily trading volume of $5.5 billion. Meanwhile, on Bitfinex exchange, Bitcoin is changing hands at $3,691 in comparison to the $3,630 on the majority of other exchanges. Source: TradingView While many analysts are predicting the Bitcoin bottom to hit in sometime around mid-2019, the market currently just might see more red or at least no greens. The Bitcoin futures contracts of Cboe are expiring today. According to the data provided by Barchart, these contracts have 1 Bitcoin contract size. Source: barchart.com The upcoming dates for the Cboe bitcoin futures are here. Source: cboe.com As we can see in the data above, the prices are decreasing moving forward. About this, Gabor Gurbacs, the digital asset director at VanEck has this to say, First launched on December 10 in 2017 as per the official website of the Cboe, under the ticker symbol XBT, these futures are cash settled. These settlements are based on digital asset company, Gemini’s auction price for Bitcoin. If we take a look at the previous Cboe Bitcoin futures’ expiry data, on October 17, 2018, Bitcoin price took a slight downward shift from $6,580 to $6,540 (approximately). Then on November 14th, from $6,359, Bitcoin dropped to $5,790. However, the most recent Cboe expiration has been on December 19, when price actually went up from $3,540 to $3,950. Bitcoin price in December 2018, Source: Coinmarketcap It is to be seen if Bitcoin will take a rise just like the last time. Or if it will follow the price movement of October and November and see a dip. The post Cboe Bitcoin Futures Expiring Today, Will Bitcoin Rise Just Like in December? appeared first on Coingape.
CoinGape

2018 Was Bittersweet for Bitcoin: Focus on JP Morgan's View of BTC Futures on CBOE and CME

Bitcoin has not been able to come out of the bear trend the entire year. Bitcoin futures have been a great addition to the crypt market since their introduction by CME in 2017. ​​​​​​This year has been the year of correction in in the cryptocurrency industry. It is true to say that it has been both bitter and sweet. We saw Bitcoin spiral losing ground massively from its all-time high traded in December 2017. In spite of the declines, there has been tremendous development in terms of technology and new products. The market has battled to come out of the speculation and focus on core of the industry; development and mass adoption. The unfortunate thing is that Bitcoin has not been able to come out ...Full story available on Benzinga.com
Benzinga

Ethereum Futures Rumors Mount, As CBOE’s Bitcoin Foray Turns One

CBOE’s Bitcoin Foray Turns One As noted by Tom Hearden, a senior trader at Skylands Capital, subsequently relayed through MarketWatch, one year and one day ago, the Chicago Board Options Exchange (CBOE Global Markets) made history, becoming one of the first financial institutions to launch a fully-fledged Bitcoin (BTC) product. Now that crypto is in the midst of a bear market, might as well look back and reminisce… right? Tuesday will mark the 1 year anniversary of Bitcoin Futures. First tick $15,000 and halted limit up twice in that first session.Last trade $3,160 -Happy Birthday! pic.twitter.com/J3qsggEwrD — Tom Hearden (@followtheh) December 7, 2018 This instrument was, of course, a BTC-backed futures contract that became an industry hot topic near-instantly. Still, in Ethereum World News’ original report on the matter, which seems decades old now, community members divulged that they were dissatisfied with the product’s launch, as the Chicago-based institution’s webpage crashes just eight minutes after the launch of the first bonafide BTC futures. Yet, during that day in history, December 11th, 2017, BTC purportedly rose from $14,500 to $15,700 in minutes, presumably due to the influx of interest that speculators expected. In fact, spot and futures BTC rose so fast that CBOE, likely inundated with queries from investors worldwide, had to halt trading on its market… twice. And now, amid the market lull, catalyzed by the absence of Bitcoin bulls, CBOE’s enamorment with halting trade is as apparent as ever. Case in point, the institution had to adjust its “Lower Price Limit” percentage twice, when the futures price hit $3,160, the year-to-date low. Mati Greenspan spoke to the aforementioned financial media outlet on the matter of the Bitcoin futures, lauding them as a resounding success: He wrote: They’ve managed to open up the market to users who otherwise wouldn’t have access, so in that regard, I think they have been somewhat of a success. Not only did they allow people to go long, but it opened up short selling to a wider audience. While the eToro in-house crypto analyst painted the product in a good light, as it broadened Bitcoin’s horizons, MarketWatch noted that CBOE data indicates that the product failed to catalyze an unparalleled influx of institutional money. Bakkt, Nasdaq, and ErisX To All Launch Bitcoin Futures Although CBOE’s in-house crypto instrument might not have garnered boatloads of investment interest, there remain a number of firms looking to unveil futures for Bitcoin, and reportedly even Ethereum. As reported by Ethereum World News previously, Bakkt, a diverse crypto startup partnered with the Intercontinental Exchange, Starbucks, and Microsoft, has the intent to launch a physically-backed Bitcoin futures product by January 24th, 2019, in an industry first. ErisX, backed by TD Ameritrade, issued a similar announcement, seemingly aiming to undermine its rival in Bakkt. Not much is known about this venture, but many expect that it will offer a product roster that mirrors or somewhat resembles that of Bakkt. Most recently, Nasdaq, the world-renowned financial institution, divulged that it is working in collaboration with crypto-friendly VanEck, to bring “crypto 2.0 futures” to market, with the firm presumably looking at Ethereum and Bitcoin as supported assets. Bloomberg has revealed that Nasdaq is planning to publicly embark on its first notable crypto foray by Q1 of 2019, pending a green light from the U.S. CFTC.   Ethereum Product Rumored Even with all this hype surrounding Bitcoin-centric futures, a new contender is expected, if not slated to emerge into crypto’s alternative investment vehicle scene. This, if you haven’t guessed already, is Ether (ETH), the native asset of the “world computer” that is the Ethereum Network. Just recently, the U.S. Commodities Futures Trading Commission (CFTC) hinted that it is looking into ETH. In a statement, the prominent American financial regulator claimed that it was seeking the public’s opinion on digital currencies, most notably Ethereum. In a public release, the somewhat crypto-friendly body wrote: The RFI [Request For Information] also seeks to understand similarities and distinctions between Ether and bitcoin, as well as Ether-specific opportunities, challenges, and risks. It is believed that the entity is seeking feedback to precede its ruling on an Ether-backed vehicle, such as purported Ethereum futures contracts backed by CBOE. Yet, a number of crypto commentators recently took to Twitter to allude to the theory that if Ethereum-backed futures, even a non-physical instrument, goes live, the aforementioned blockchain’s native asset may actually fall, due to “rehypothecation” — a common sight in traditional financial industries. Confetti Title Image Courtesy of Jason Leung on Unsplash The post Ethereum Futures Rumors Mount, As CBOE’s Bitcoin Foray Turns One appeared first on Ethereum World News.
Ethereum World News

Bitwise CEO Calls Bakkt, CME, CBOE and Fidelity by Name for Enhancing Cryptocurrency’s Future

The bear market has been bringing down Bitcoin for the last few weeks, along with multiple other coins in the industry. Even with this downward trend, multiple updates and changes in the cryptoverse have neen coming out to show how the community is reacting. Bitwise is one of the most recent commentators, in a conversation with Bloomberg. Hunter Horsley, the CEO for Bitwise, discussed the way that the investors are following along with the current crash. Stating that Bitcoin’s demise was the ultimate reason for the slope, he also commented on the way that new investors are coming in, which shows that the industry is still developing the ecosystem as they wait for Bitcoin to come back up. Horsley commented, “If you look at the cryptocurrency market ever since the inception of Bitcoin, the cryptocurrency bubble has not burst. In the ten year history, the market has dropped significantly lesser than the S&P market.” Based on his opinion, the crypto assets trade in a similar way to public equity, but acts more like a phenomenon than anything else. Hunter Horsley also noted that the issue of retaining investors in the industry is complicated for Bitwise, because they offer both crypto funds and beta products. About 20% of the clients they presently hold have increased investments as they’ve seen new investors join. As Horsley puts it, “A lot of people view the industry as bear market with the number of investors going up all year round. The investor demographic also shows that the type of investors have also changed..” Investors that got in sooner had more of a portion of the assets, though the inflow now comes with professional investors making the moves. Investors that are familiar with the process side with the fund format, allowing them to consider their potential investments. From there, Bitwise will evaluate the storage custodian. This week alone, there are two new single-asset funds that Bitwise launched – the Bitwise Bitcoin Fund and the Bitwise Ethereum Fund. The company released a statement, commenting, “The launch was driven by inbound client interest and investor dissatisfaction with existing options, many of which carry premiums, charge exit fees, have lockups, and/or charge expenses to the fund outside the stated management fee.”
Bitcoin Exchange Guide

Bakkt, Fidelity, CME and CBOE have ‘positively positioned’ the future of cryptocurrencies, says Bitwise CEO

Bitwise’s chief executive officer, Hunter Horsley, spoke about the brutal dips taken by Bitcoin, which was ultimately mirrored by Ethereum [ETH], XRP, Tron [TRX] other cryptocurrencies, in an interview on Bloomberg. He spoke about the importance of cryptocurrencies in the upcoming years and the entry of institutions, backed by the government, and how it could help improve and trigger the next bull run. Horsley directed towards his firm [Bitwise] and said that investors, be it individuals or institutions, are investing in cryptocurrencies even though the market is undergoing a crash and that the people redeeming their investments are negligible as compared to the investors that are pouring in, to invest. Furthermore, he said that the institutions or investors’ doubts or explanations about the current scenario/state of the market can be explained by the company or the custodian. He continued: “… it simplifies exposure, it’s you know, it’s much the same reason that the investors like investing in oil through ETFs or gold through ETFs, it takes away a lot of that complexity. what do you think? Obviously, this is a very competitive space, despite the continued slide, what do you think you’re offering that’s different from everyone else?” Moreover, Horsely continued by stating that although the bear market has been brutal, more investors and enthusiasts are entering the space as they are getting acclimated with the underlying technology that cryptocurrencies bring to the table. As a reason, he said that the cryptocurrency ecosystem has never felt more “positively positioned” than ever. He continued: “So the beginning of next year, we’ll see Fidelity launch custody. The NYSE’s sister Bakkt will be launching futures and custody, CME is has launched features this year. CBOE and a number of others. So, I think they’re more participants than we’ve ever seen before and a lot of reason to be optimistic.” The post Bakkt, Fidelity, CME and CBOE have ‘positively positioned’ the future of cryptocurrencies, says Bitwise CEO appeared first on AMBCrypto.
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OPINION

Why Do We Need to Wrap Bitcoin?

BitGo, Kyber Network, MakerDAO, IDEX and many other crypto companies partnered to create a Bitcoin-backed Ethereum token, Wrapped Bitcoin. This token will represent BTC, 1 token equal to 1 BTC stored in the custody of BitGo. It could be used to trade BTC on DEXes, the whole administration will be via DAO, similar to Maker system

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DIGEST

Tether destroyed 500 million USDT, Swissquote allows ICO participation, Coinbase added its first stablecoin, IDEX to block NY users, Vertex Ventures invests in Binance, the biggest crypto theft in Australia, Sony creates contactless hardware wallet, Japanese crypto exchanges got a self-regulatory status, Bitcoin Futures still lack volume — in this weekly news

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ESSENTIAL

Today’s cryptocurrency market is young and volatile. Cryptocurrencies have no backing, as such their value is not attached to a physical asset in fact. Their prices are, by and large, speculative meaning they are highly dependable on news and people talking about them. In an effort to bring stability to the market, CBOE and CME, world’s largest derivatives exchanges, decided to introduce Bitcoin futures.

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BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature

Brave Browser Announces BAT “Rewards” Feature On Tuesday, Brave Browser, a crypto-friendly internet application headed by the founder of Mozilla Firefox, Brendan Eich, made a surprising announcement, seemingly aiming to start of 2019 with a proverbial bang. Via a company release, conveyed through its in-house blog, the Brave and Basic Attention Token (BAT) team, which consists of Eich, coupled with an array of fintech, Silicon Valley, and crypto veterans, revealed that it would be previewing “opt-in ads in [the] desktop browser developer channel.” While this feature sounds nebulous, there’s more to this integration than meets the eye. In fact, as broken down in a PC Magazine feature article, this new advertising model will allow common Joes and Jills to earn crypto, in the form of BAT, and potentially other rewards in the feature. This new offering, dubbed Brave Rewards, will siphon 70% of earned ad revenue to users who agree to view advertisements. The remaining 30% will be paid to Brave’s war chest — a likely controversial play, but one necessary for the blockchain project’s long-term survival. Rewards will be available via Brave’s developer/test browser edition. It wasn’t exactly divulged when the innovative feature would hit the publics’ desktops, but the following GIF is how the feature will work: Looking outwards, the Brave team revealed that they expect opted-in users to earn upwards of $60 to $70 a year in the near future, with their preliminary projections predicting that $224 a year could be earned by 2020 through Brave’s in-house ecosystem. While this sounds great — an effective free $224/year for viewing ads — like all things too good to be true, there’s a catch. At the time of writing, Brave has announced support for BAT token withdrawal, as the company wants Rewards’ users to reward their favorite content creators, whether it be large new portals or Youtubers. After this feature goes live successfully, Brave intends to activate “publisher-integrated ads,” which will allow content creators to feature “private ads” on content creators’ pages through the startup’s systems. The company subsequently explained its Brave Ads offering and its applications/benefits from a top-down perspective, writing: With Brave Ads, we are reforming an online advertising system which has become invasive and unusable. Users have turned to ad blockers to reclaim their privacy from ads that track them and sometimes even infect them, and publishers are finding it increasingly difficult to earn ad revenue to sustain quality content with intermediaries that collect huge fees. It is important to reiterate that at this time, this newfangled feature is technically in its beta phase. Due to this positive news, the popular altcoin, which recently gained the support of industry powerhouse Coinbase, has posted a respectable price gain. At the time of writing, BAT is currently valued at $0.125 apiece, posting a 3% in the past 24 hours. The crypto, currently the 36th in this market’s standings, is currently outperforming Bitcoin (BTC) by 2.7%, and Ethereum (ETH) by 2.4%. Crypto Lulls: Bitcoin, Ethereum, XRP Post Barely Any Movement In the same vein of cryptocurrency prices, the broader market has posted close-to-zero movement in the past 24 hours. Per data from Coin Price Watch, BTC has found itself at $3,645 — a mere 0.58% gain over the past day. Other leading crypto assets have also posted slight gains, but have still underperformed BAT. XRP, the go-to asset for fintech upstart Ripple, is up 1.27%, as it sits just shy of the $0.33 price level at $0.3296. ETH, which recently tumbled due to the delayed Constantinople fork, has found itself up by 2%, regaining a portion of the losses incurred yesterday. While the market is trending slightly positive, some analysts expect that BTC is ready to dive. Speaking to MarketWatch, Jani Ziedens of Cracked Market claimed that BTC, if truly oversold, should be posting monumental gains right now, rather than finding itself in an extended lull. So, Ziedens added that this “lethargic base” indicates that demand is limited, “incredibly weak” even, and as such, lower crypto bottoms may be inbound. BAT Title Image Courtesy of Descryptive.com via Flickr The post BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature appeared first on Ethereum World News.
Ethereum World News

Cryptopia Hacker Moves Stolen Crypto to Binance; Community Alerts CZ and Funds Are Frozen

It is clear that hackers gave themselves a place to stay in the cryptocurrency industry, which was only made more evident by a recent security breach that happened over the last few days. Cryptopia, a leading exchange in New Zealand, announced a breach that ended in a major theft on January 14th. However, unlike the unfortunate tale that many other exchanges succumb to, that is not the end of the story. The official statement notes that Cryptopia has placed itself into a maintenance mode, helping them to protect their accounts until the regulatory authorities of New Zealand provide other details. Both the High Tech Crimes Unit and the local police are pursuing investigative efforts, though they have commented that “a significant value of cryptocurrency may be involved.” At this point, the actual amount has not been released, and no substantial details have been provided. Still, that has not stopped local news portal Radionz from reporting that the loss is close to $3.6 million. A Twitter user, ShaftedTangu, seems to know where these digital assets are going. On the posts, the user said, Hey @cz_binance Binance has stolen tokens from Topia hitting it sir. Can you lock it down? https://t.co/0XllsBejUV — I Dream Of Alts (@ShaftedTangu) January 16, 2019 Through a string of additional tweets, the user continued to track the funds, as he mentioned wallet address 0x9007a0421145b06a0345d55a8c0f0327f62a2224. In another tweet, he claimed, “Currently the 0x900 wallet contains around $10 mil USD of tokens, large amounts are $PRL $2mil, $CENNZ $1.168 mil, $Denacoin $2.73 mil, $MSP $0.99 mil” Luckily, just under four hours after the original tweet, CZ Binance replied. The reply said, Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 With such a nonchalant type of reply, it is quite a victory for Cryptopia and Binance that the funds could be frozen at all. However, the victory has not been won yet, considering there is no indication of exactly who performed the hack in the first place. Cryptopia has remained silent, though they posted to their own Twitter profile, saying, “We cannot comment as this matter is now in the hands of the appropriate authorities. We will update you as soon as we can.” As a result of these issues, Zhao posted that users should keep their holdings on exchanges, rather than a hardware wallet. However, his post caused an onslaught of negative replies, with some saying that his post implied that self-storage is substantially riskier than storing on a seemingly “reputable” exchange. Zhao later retracted, saying that he was not advising investors to store funds on exchanges. In the first half of 2018 last year, there was over $731 million lost in thefts involving exchange hacks. However, none have reached the severity experienced by the 2014 Mt. Gox hack.
Bitcoin Exchange Guide

Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack

Some of the stolen cryptocurrency from yesterday’s Cryptopia hack has been sent to Binance, which has confirmed already freezing some of the funds.  Binance Freezing Funds Stolen from Cryptopia Twitter account @ShaftedTangu has alleged that some funds stolen as a result of Cryptopia’s hack have been siphoned through Binance. The amounts sent to Binance in question include roughly $7,500 in Metal (MTL) 00, $6,750 in KyberNetwork coin (KNC) 00, $7,181 OmiseGO tokens (OMG) 00, and $8,724 in EnjinCoin (ENJ) 00. All of it totals around $30,000. Changpeng Zhao, CEO at Binance – the world’s largest cryptocurrency exchange by means of traded volumes, has confirmed the allegations, reassuring that they’ve already frozen some of the funds. Zhao commented: Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high-risk maneuver for them. Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 Bitcoinist reported yesterday that Cryptopia’s security has been breached, resulting in ‘significant losses’. Police in New Zealand also confirmed. Binance Caught in the Fire Zhao’s tweet caused a reaction in crypto Twitter’s community as one user (@Crypto_Bitlord) expressed his bewilderment that Zhao referred to “social media” as a means of reporting rather than Binance’s own surveillance systems. I’m genuinely shocked stolen funds from @Cryptopia_NZ have easily passed through @binance UNDETECTED until social media flagged them. This raises some big questions. How is that possible with modern blockchain analysis? — Sir Bitlord (@Crypto_Bitlord) January 16, 2019 On the matter, Binance’s CEO said: It’s quite easy to generate a brand new address. We (and no one) recognize every transaction out there. We already have very in-depth and detailed blockchain analysis. Yet, the question remains – if a regular Twitter user has been able to detect the transaction in question, how, and more importantly – why did Binance miss it? Perhaps the better question, as posed by @Crypto_Bitlord is: So you are saying criminals can steal funds and just create a brand new address to send to before binance? In the meantime, Binance announced today the launch of their Binance Jersey fiat exchange. The platform is aimed at traders from Europe and it offers BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR trading pairs. What do you think of Binance missing the transactions in question? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack appeared first on Bitcoinist.com.
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