First CBOE Bitcoin Futures Reaches Settlement

Cboe Global Markets (Cboe) announced the settlement of January expiry Cboe bitcoin (XBT) futures.

The settlement price was $10,900.00, as determined by the 4:00 p.m. ET Gemini1 Exchange bitcoin auction.

Cboe XBT futures, launched on December 10, 2017, and a total of over 124,000 contracts have traded across expiries since, representing a notional value of over $1.5 billion. The contracts, which are cash-settled, were specifically designed to allow participants to implement straightforward trading strategies through settlement to a single, tradable auction price as calculated by Gemini.

Ed Tilly, chairman and CEO of Cboe, comments: “Our regulated market experienced a smooth operational close and the settlement process worked as designed. This is an encouraging initial milestone, and we look forward to working with customers to power the growth of this nascent market.”

Galen Stops

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