CBOE bitcoin futures to launch Dec. 10

CBOE Global Markets Inc. said Monday that it will launch trading of bitcoin futures on Sunday, Dec. 10. Trading will begin, under the ticker symbol "XBT," at the start of global trading hours at 6 p.m. ET, and will be free through December. based on Gemini’s auction price for bitcoin, denominated in U.S. dollars. "Given the unprecedented interest in bitcoin, it’s vital we provide clients the trading tools to help them express their views and hedge their exposure," said CBOE Chief Executive Ed Tilly. CBOE said the move comes as the total value of bitcoin outstanding has grown from less than $1 billion to over $183 billion over the last five years, with daily turnover at over $10 billion. The total value of all cryptocurrency tokens outstanding is about $332 billion. CBOE’s stock has run up 68% year to date, while the S&P 500 has gained 18%.

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