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    Bitcoin (virtual currency) coins placed on Dollar banknotes are seen in this illustration picture, November 6, 2017

    Chicago Board Options Exchange to Start Trading Bitcoin Futures on Sunday

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    Despite the recent slump, the world's top cryptocurrency Bitcoin has seen a 17-fold rise during the last year.

    MOSCOW (Sputnik) — On Sunday the US Chicago Board Options Exchange (CBOE) Global Markets will start trading futures that will track the world’s most popular cryptocurrency Bitcoin as the latter has recently achieved yet another historic price record.

    The CBOE will become the first company that officially starts trading Bitcoin futures, a move which is expected to further increase the price and acceptance of Bitcoin.

    The trading will start at 5:00 p.m. in Chicago [23:00 GMT] under the ticker symbol "XBT." The XBT futures are cash-settled contracts based on the Gemini's auction price, according to the CBOE.

    READ MORE: Gold-Backed Bitcoin to Become New Global Monetary System?

    CBOE’s rival Chicago Mercantile Exchange & Chicago Board of Trade (CME) Group will launch Bitcoin futures trading on December 18.

    Bitcoin has been steadily growing throughout 2017. On Thursday, it reached a historic record value and traded at over $18,000, however, the cryptocurrency has seen a 15 percent slump over the last 24 hours.

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    option, exchange, Bitcoin, United States
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