Some market observers believe the launch of bitcoin futures will speed the introduction of exchange traded funds based on the digital currency. In recent weeks, several ETF issuers have also filed plans for blockchain ETFs, which would hold stocks with exposure to the digital currency trade.
“With bitcoin trading near $16,700 Thursday, that means the call options trader or traders expect the digital currency to soar more than 200 percent in the coming 12 months. Bitcoin is up about 1,900 percent over the last 12 months, according to Coinbase,” reports CNBC.
However, on Friday morning the price of one bitcoin plummeted to below $13,000, according to Coinbase.
It was also reported earlier this week that the New York Stock Exchange has filed plans to list two bitcoin ETFs from ProShares, one of which would be an inverse fund designed to profit from declines in the digital currency.
For more information on the cryptocurrency market, visit our Bitcoin category.