Both got the green light Friday after going through a process called self-certification - a pledge to the U.S. Commodity Futures Trading Commission that the products don’t run afoul of the law. The news increased the price of bitcoin.
CME Group Inc.’s contracts will start Dec. 18. “Bitcoin, a virtual currency, is a commodity unlike any the commission has dealt with in the past,” CFTC Chairman Chris Giancarlo said in a statement Friday. “We expect that the futures exchanges, through information sharing agreements, will be monitoring the trading activity on the relevant cash platforms.”
Cboe hasn’t announced the starting date of their contracts yet.