Four hours after the debut of Cboe Global Markets Inc’s bitcoin futures, the contracts climbed more than 20% and triggered two trading halts designed to cool volatility. Until now, trading in bitcoin was driven mainly by individual investors who were willing to risk buying on mostly unregulated markets. As of 10.15pm New York time on Sunday (10.15am on Monday in Thailand), bitcoin futures expiring in January were priced at $17,780, up from an opening level of $15,000. Once the markets are better established, professional traders will arbitrage between the Cboe and CME futures and bitcoin itself, improving pricing efficiency, Aslam said. Cboe’s futures are cash-settled and based on the Gemini auction price for bitcoin in US dollars.

Source: Bangkok Post December 11, 2017 03:33 UTC