MATT LEVINE: Bitcoin futures trading is coming. This is how it will work ... or not
'If you're an institutional investor who wants exposure to bitcoin, a futures contract that trades on an exchange that you already use is very helpful. A scrap of paper in a safe is hard to manage'
I want you to imagine a time, in the not-too-distant future, where the following things have happened (in this order): 1. Bitcoin futures have started trading on the CME Group Inc.'s futures exchange, which they are scheduled to do by next month.2. JPMorgan Chase & Co. has offered its institutional trading customers access to the bitcoin futures contract through its futures brokerage, as it is contemplating doing.3. Everyone has decided that bitcoin is dumb and its price has collapsed, as JPMorgan Chief Executive Officer Jamie Dimon has said it will.