The first-even bitcoin future began trading Sunday as the increasingly popular virtual currency made its debut on a major US exchange.
Within three hours after its listing of bitcoin futures, the website and online trading platform of the Chicago Board Options Exchange (CBOE) were inaccessible, due to an unexpected spike in demand and volume.
Yet as of press time, CBOE’s website is becoming more available – delayed information about the contracts being offered can be found here – and the price of bitcoin has maintained a somewhat steady pace since that initial jump, trading at $15,226.29 per the BPI.
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The data coming in thus far suggest that buyers are indeed moving to purchase contracts. Activity has been largely centered around the first contract to expire, dated January 17, 2018, with social media posts pointing to purchases of contracts scheduled to expire on March 14.
According to CNBC, 672 January contracts have been sold as of 7:10 pm EST, with the news service reporting a price of $15,800.
In all, the tumultuous start is perhaps a fitting start to the trading of the new contracts. CBOE’s is the first to be traded on a major regulated exchange in the U.S., and it’s set to be followed next weekby CME Group, which has announced that it will launch its own products on Dec. 18.