Cboe announces bitcoin futures to start trading Sunday

Cboe Global Markets is leaping ahead of CME in an effort to become the first to launch bitcoin futures.

Cboe announced Monday it is launching futures trading in the cryptocurrency beginning Sunday, making the Chicago-based exchange the first to give investors a new way to wager on, and against, the booming new market.

“Given the unprecedented interest in bitcoin, it’s vital we provide clients the trading tools to help them express their views and hedge their exposure,” Ed Tilly, chairman and CEO of Cboe Global Markets, said in a release.

The Cboe Futures Exchange plans to offer trading in bitcoin futures beginning 6 p.m. ET Sunday. Trading will be free through December, according to the release.

In a race by major exchanges to offer bitcoin derivatives products, CME announced Friday it would launch bitcoin futures Dec. 18.

The Commodity Futures Trading Commission said Friday it would allow the CME and Cboe to launch bitcoin contracts. Cantor Exchange also self-certified a new contract for bitcoin binary options, the commission said.

Cboe’s bitcoin futures will trade under the ticker symbol “XBT” and will be cash-settled against the auction price from Gemini Trust, the digital currency exchange founded by twins Cameron and Tyler Winklevoss…

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