Crypto Trading Sites in Race for First Bitcoin Futures

The competition in the first to acquire market share in one of the most closely watched products, namely Bitcoin futures with real delivery, is stiff.

The owner of the New York Stock Exchange is expected to soon start offering bids for such contracts, then Eris Exchange LLC will follow the example of the NYSE. Eris Exchange is the company that claims to be the first to offer this type of instrument on the market, intending to start offering derivatives on some of the largest digital coins to Asian investors starting next month.

Starting in the past year as CoinfloorEX, part of the UK-based Coinfloor Crypto Exchange, the platform will now be called Coin Futures and Lending Exchange or CoinFLEX. The company is owned by a consortium, including the well-known Bitcoin Roger Ver and Trading Technologies International, who develop broker and money manager software for traders. CoinFLEX will offer futures on Bitcoin, Bitcoin Cash and Ethereum that can be traded on a credit shoulder of 1:20. A strong feature of CoinFLEX will also be the opportunity for futures to be delivered. This means that when the contract expires, the owner will get the default cryptoLight instead of cache payment.

Crypto derivatives can turn into something very big, of huge importance, even bigger than spot markets, and the only thing that keeps all this happening is the actual delivery function. Volumes declined dramatically due to a problem in cash crunch - secured contracts.

Currently, the daily volume of trading in the major Crippo markets is roughly the same as the others - about $ 3 billion. In other markets, however, futures volumes may be up to 20 times more, suggesting that there is room for growth of digital asset futures.

CoinFLEX will have to compete with Intercontinental Exchange, the owners of the NYSE. They plan the presentation of futures with real delivery as part of their cryptic venture - Bakkt.

Source: Bloomberg Finance L.P.

Graphs: Used with permission of Bloomberg Finance L.P.

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