Markets
CME reportedly in talks with traders to open Bitcoin trading
The Chicago Mercantile Exchange is reportedly considering launching Bitcoin transactions on its platform to capitalize on growing demand.
CME Groupthe world’s largest futures exchange, appears to be considering launching Bitcoin trading services, as interest in digital assets on Wall Street continues to grow, the Financial Times has learnedciting people familiar with the matter.
The Chicago-based exchange has reportedly been in discussions with traders interested in trading the largest cryptocurrency by market value, although the plan has not yet been finalized. As of press time, CME has not made any public statement on the matter.
The talks come after the US Securities and Exchange Commission (SEC) gave the green light to list Bitcoin spot exchange traded funds (AND F) on CME, alongside its existing crypto futures products. And while the first influx of capital into spot Bitcoin ETFs from institutional investors like Wisconsin Investment Council And BNY Mellon has been notable, this latest market sentiment appears to have calmed, leaving many ETF issuers with almost no influx.
If CME continues its spot trading business, it will operate through the EBS currency trading platform in Switzerland, the people say, referring to the region’s strict regulations governing crypto trading and storage.
The United States Securities and Exchange Commission (SEC) approved several spot Bitcoin ETFs in early 2024 to be listed on all registered national exchanges in the United States, including Nasdaq, NYSE and CBOE, after a decade of research for these products.
And although the SEC has approved several spot Bitcoin ETFs, the watchdog has been reluctant to quickly approve options for spot Bitcoin ETFs, raise concerns on whether options on spot crypto ETFs should be subject to the same regulations as stocks.