Bitcoin surges once again this week on the news that CME Group will release Bitcoin futures by the end of this year.
Terry Duffy the CEO and chairman of CME said in a statement:
“Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract,”
The bitcoin futures contract will be cash-settled and based on the CME CF Bitcoin Reference Rate (BRR), which CME launched in November 2016 with London-based digital trading platform Crypto Facilities. The reference rate is a daily settlement price published at 4 p.m. London time, currently noon ET.
At the time of writing Bitcoin is currently sitting at $6420, this is a new all time high for Bitcoin and with plenty of developments and news over the coming weeks expect the short time left in 2017 to be an interesting one.