According to the Financial Times, CME Group, the world’s leading derivatives exchange, plans to launch Bitcoin spot trading in response to Wall Street’s growing investment demand for the cryptocurrency field this year.
The Financial Times quoted three people familiar with the matter as saying that CME Group has held relevant discussions with a number of "traders who want to buy and sell Bitcoin in regulated markets." The report mentioned that although this plan has not yet been finalized, if it is finally implemented, it will fully demonstrate the determination of Wall Street institutions to further enter the field of cryptocurrency.
In response to the above news, CME Group declined to comment.
In recent years, CME Group has continued to expand its cryptocurrency derivatives business product line. Since launching Bitcoin futures in December 2017, CME Group has also launched Bitcoin options, Ethereum futures and Micro Bitcoin futures to date.
The Financial Times revealed that if CME Group launches Bitcoin spot trading, it will once again open the door for Bitcoin to enter the mainstream market, because it will allow investors to more easily conduct "Basis Trading", that is, Leverage is used to arbitrage the price difference between futures and the underlying spot market. Currently, the vast majority of U.S. bond basis trading is conducted on the CME Group.
People familiar with the matter said that CME Group’s potential Bitcoin spot trading business will be conducted through Switzerland’s EBS currency trading venue, which has extensive regulations on the trading and storage of crypto assets.
However, it is worth noting that CME Group’s competitor, the Chicago Board Options Exchange (CBOE), only last month said it would shut down its cryptocurrency spot market business, accusing the United States of lacking clear regulations in this regard.
〈Cryptocurrency layout upgraded again? "Financial Times": CME Group plans to launch "Bitcoin Spot Trading". This article was first published on "Block Guest".