In an interview with CNBC yesterday, The CEO of the CME Group confirmed that they are set to launch Bitcoin futures trading by mid-December.
Terry Duffy suggested their introduction of these futures will now be “sometime in the second week” of December.
Bitcoin’s markets have fluctuated over the past week, as their projected upgrade was halted and markets seriously challenged by its rival Bitcoin Cash. Duffy’s statement yesterday seemed to have brought some stability to the Bitcoin Market.
As per Coin Market Cap, Bitcoin is currently trading above $6,500 as its volatility diminishes.
It seems Bitcoin has found its footing once more, as it has regained some of its strength from plummeting this past weekend as its rival Bitcoin Cash surged. It is still below $1,300 from last week’s all-time records.
CME first made their announcement towards the end of October and there was speculation that it was responsible for the bullish surge of BTC up until late last week.
Duffy states that he plans to offer a risk assessment area for Wall Street institutional traders.
He told CNBC, “I’m not trying to rein in the volatility of Bitcoin but what I want to do is give it a place for other people to lay out that risk. Today you cannot short Bitcoin. So there’s only one way it can go.”
Bitcoin, at press time, is currently trading at $6636.86 up 2% in 24hrs.
Featured Image: twitter