20:18
Crypto derivatives exchange Bybit launches quarterly Bitcoin futures

The contracts will offer traders a longer time horizon for speculating on the digital asset.
 

Bybit announced Thursday that it will roll out a BTC/USD quarterly futures contract on Nov. 30. Two contracts will be offered at launch — BTCUSD1225, settling on Dec. 25, 2020, and BTCUSD0326, which will be settled on March 26, 2021.

Bybit says the new futures contracts have no funding fee, which means traders can hold the position without charge as long as the contracts are still in effect.

Like traditional futures contracts, Bitcoin (BTC) futures allow traders to buy and sell the digital currency at a predetermined price at a specific future date.

Bybit isn’t the first crypto trading platform to offer quarterly Bitcoin futures. Binance, a Malta-based exchange with the highest daily volume, launched its quarterly BTC futures contracts in January.

Demand for crypto derivatives is on the rise as more institutional investors come into the fold. Recent data from Wilshire Phoenix suggest that CME Bitcoin futures are having a significant impact on the digital currency’s price.

The report claimed:

“CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading volume and open interest, but also by influence on spot price formation.”

Launched in December 2017, CME Bitcoin futures are now the second-largest BTC futures exchange by open interest. The top spot belongs to OKEx, according to data analytics firm Skew.

Institutions are increasingly viewing Bitcoin as a long-term investment opportunity. The likes of Paul Tudor Jones and Stanley Druckenmiller have also thrown their weight behind the flagship digital currency, potentially signaling a shift in institutional thinking.

Sourse: cointelegraph.com

BACK TO NEWS LIST

Start mining bitcoin now

Start trading bitcoin now

Category: News | Views: 42 | Added by: danyagames2007 | Tags: #Bitcoin #Bitcoin markets #btc news | Rating: 0.0/0
Total comments: 0
Name *:
Email *:
Code *:
[16.01.2021][News]
French Programmer Sent Bitcoin Donations to Far-Right Activists Who Participated in the US Capitol Riots (0)
[16.01.2021][Analytics]
Thoughts on the crypto market on 01/16/2021 (0)
[15.01.2021][News]
Mt. Gox Creditors Can Finally Claim Lost Bitcoins. Is Market About to Collapse? (0)
[15.01.2021][News]
Did Grayscale push Bitcoin back up to the $40K mark? (0)
[15.01.2021][News]
Canada’s first public Bitcoin fund hits $1 billion (0)
[15.01.2021][News]
Block.one’s Bitcoin reserves are now worth double the entire EOS market cap (0)
[15.01.2021][News]
Bitcoin bubble will pop sooner or later, says famous Russian BTC critic (0)
[14.01.2021][News]
Pantera Capital CEO doubles down on $115K Bitcoin prediction for 2021 (0)
[14.01.2021][News]
Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy (0)
[14.01.2021][News]
ECB Chief Christine Lagarde Calls for Global Bitcoin Regulation — Says BTC Conducts 'Funny Business' (0)

BACK TO NEWS LIST