Just 15 months ago, history was made when the Chicago Board Options Exchange (CBOE) and CME, two of the world’s largest derivatives markets unveiled futures contracts for Bitcoin (BTC), then the hottest asset on Earth. But, after a brutal year, which saw many an exchange hack, tumultuous market conditions, and a monumental loss of retail interest, futures providers are reassessing their cryptocurrency products, as demand has slowed in many cases.
On Thursday afternoon, the CBOE made waves in the American cryptocurrency market. In a brief announcement, released to the trading platform’s clientele, the Chicago-headquartered exchange revealed that it would not be offering an XBT (Bitcoin) contract for trading in March 2019. This means that by June 2019, the company’s clients will have no open interest in any of the Bitcoin contracts the CBOE offers. The announcement reads: