Bitcoin futures will launch on Cboe Global Markets ( CBOE ), starting at 6 p.m. ET. Bitcoin futures trades, via the symbol XBT, will be have zero transaction fees through December. Cboe is getting a jump on CME Group ( CME ). CME Bitcoin futures launch on Monday, Dec. 18.
Bitcoin futures should boost liquidity for the cryptocurrency, making it a more acceptable investment vehicle. But some of that liquidity will come from investors getting a chance to short Bitcoin.
Bitcoin's big 2017 run has intensified in recent weeks, rapidly rising from $10,000 to above $17,000 last week, clearing $19,000 on some platforms. Bitcoin was trading at $5,422.58 on Coindesk, up 3.4% and back above $15,000.
Goldman Sachs ( GS ) will clear Bitcoin futures trades for clients. But JPMorgan Chase ( JPM ) and Citigroup ( C ) reportedly will not, at least to start. JPMorgan Chase CEO Jamie Dimon last week said that he remains "highly skeptical" of the cryptocurrency, after previously calling it a "fraud." Goldman CEO Lloyd Blankfein recently said that Bitcoin "doesn't feel like a currency."
TD Ameritrade (AMTD) is among the brokerages that will make Bitcoin futures contracts available for individual investors.
It'll be interesting to see the impact of Bitcoin futures on Bitcoin Investment Trust (GBTC). The Bitcoin investment vehicle has been a Bitcoin proxy for investors.
IBD'S TAKE:Are Bitcoin, Ethereum and other digital currencies real investments or a speculator's game? Individual investors should be extremely cautious about diving into this new area. Read this feature about Bitcoin risks and possible gains first.
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