The Chicago Mercantile Exchange, the world's largest trading group, announced plans to launch bitcoin futures on Tuesday. Its rival Chicago Board of Trade also announced that it will launch bitcoin derivatives.
The launch of bitcoin futures trading by world-renowned exchanges will allow more people to participate in the market. Most Wall Street traders have begun to prepare to join the bitcoin transactions of the Chicago Mercantile Exchange and the Chicago Board of Trade.
Analysts at Bank of America Merrill Lynch said, "More trading companies will find the charm of bitcoin fluctuations and join this market."
Virtu, a high-frequency trader, has met with the product development team of the Chicago Mercantile Exchange and offered to provide liquidity. Another trader, Cumberland, a subsidiary of bitcoin mining company DRW, also offered liquidity.
Bobby Cho, head of OTC trading in Cumberland, said, "This is a very interesting development for Bitcoin because it accelerates the integration of traditional financial companies on Bitcoin. Many traditional financial companies have been in contact with trading institutions such as the Chicago Mercantile Exchange, but now they have found new contacts. New activities in the market will provide investors with new choices. ? Cumberland will be involved. "