Cryptocurrency aficionados and market observers alike are still pondering the fate of bitcoin-related ETFs. With bitcoin futures expected to be available in the current quarter, some industry observers believe it is only a matter of time before a bitcoin ETF hits the market.
As of Wednesday morning, the price of one Bitcoin had passed $7,500.
Last week, bitcoin surged to another record after CME Group Inc., the world’s largest exchange owner, said it plans to launch bitcoin futures before the end of this year. CME’s launch of bitcoin futures in the fourth quarter of 2017 will be pending all relevant regulatory review periods.
The new contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. Bitcoin futures will be listed on and subject to the rules of CME.
CME rival Cboe Global Makets Inc. is also in the race to launch bitcoin futures.