CME CEO Says No New Crypto Futures Contract

Before Bitcoin futures have been presented, investors didn’t have the alternative to short the market. In this way, regardless of the market being in a sound position with expanded adoption and prices surging, futures gave bears the chance to speculate and influence the prices.

CME first launched the bitcoin futures contract on its platform after its rival Cboe presented the product. Presently, Terry Duffy, the CEO of CME as detailed by Bloomberg, won’t make any increases to the crypto futures market at any point in the near future.

Duffy said,

“I will not just put products up there to see where they’re going to go. I will take a wait and see approach with Bitcoin for now.”

As for the bitcoin futures volume, he shared “We’re not seeing huge flows regardless and that’s OK. This is going to take some time one way or another and we’ll do it the right way.”