CBOE to Start Bitcoin Futures Trading on December 10

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The Chicago Board Options Exchange (CBOE) announced that its proposed bitcoin futures product would initiate trading on December 10.
In a statement, CBOE said that it would start at 5 p.m. CT, with the first full day starting on Monday.

Trading on the CBOE Futures Exchange (CFE) under the "XBT" ticker, it added that it would be free this December.

The announcement is a noteworthy given that a bitcoin future being initiated by CME Group will go live the following week on December 18.

Ed Tilly, CBOE's chairman and CEO, said:

"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.

“We are committed to encouraging fairness and liquidity in the bitcoin market. To promote this, we will initially offer XBT futures trading for free."

The launch verification comes after the exchange first publicized its plans to establish a bitcoin futures product.

At the time in August, the CBOE was working with bitcoin exchange Gemini, which is operated by investors Cameron and Tyler Winklevoss, ahead of the launch.

The move also comes in the middle of soaring prices of bitcoin.

The cryptocurrency is currently trading at an estimated $11,400.
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