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23 September 2019

CME Seeks to Double Monthly Bitcoin Futures Trading Limit to 10K BTC

CME Seeks to Double Monthly Bitcoin Futures Trading Limit to 10K BTC


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Since each contract is for five bitcoin, the change means a trader’s maximum exposure would double from 5,000 bitcoin (worth about $50 million at current prices) to 2,000 contracts (10,000 bitcoin, or $100 million).

As such, CME’s move on Thursday can be seen as a sign that the bitcoin market is maturing, as well as a sign that bitcoin futures contracts are better understood than they were previously.

However, Cboe announced in March that it would be shutting down its futures market, leaving CME as the sole exchange to offer the product in the U.S.

While CME is currently the only exchange to offer bitcoin futures in the country, the Intercontinental Exchange, through its ICE Futures US wing and Bakkt subsidiary, plans to offer physically-settled futures contracts later this month.

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