Bitcoin futures up 13% after 22% surge in market debut
Backers of the Chicago-based Cboe Global Markets’ launch hope the listing will confer greater legitimacy on the volatile cryptocurrency
New York/Sydney/London — Bitcoin futures eased back from an initial surge of almost 22% to trade up 13% on Monday, in an eagerly awaited US market debut that backers hope will confer greater legitimacy on the volatile cryptocurrency and lead to its wider use. Although bitcoin futures were already offered on some unregulated cryptocurrency exchanges outside the US, the Chicago-based Cboe Global Markets’ launch was the first time investors could get exposure to the market via a mainstream regulated exchange. The debut on Sunday night may have caused an early outage of the Cboe website. The exchange said that due to heavy traffic, the site "may be temporarily unavailable". The one-month bitcoin contract opened trade at 6pm local time (23.00 GMT) at $15,460, dipped briefly before rising to a high of $18,700 and then slipping again. As of 11.12 GMT the one-month future was up 13% from the open at $17,450, about $1,000 higher than the "spot" bitcoin price — the price at which bitcoin is b...
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