Bitcoin
CME reportedly in talks with traders to open Bitcoin trading
The Chicago Mercantile Exchange is said to be evaluating launching Bitcoin trading 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 Learnedciting people familiar with the matter.
The Chicago-based exchange has been in discussions with traders interested in trading the largest cryptocurrency by market cap, although the plan has not yet been finalized. As of press time, the CME has not made public statements on the matter.
The negotiations take place after the US Securities and Exchange Commission (SEC) gave the green light to list spot Bitcoin exchange-traded funds (ETFs) on CME alongside its existing crypto futures products. And while the first inflow of capital into Bitcoin ETFs in sight from institutional investors like Wisconsin Investment Board It is BNY Mellon was notable, the latest sentiment in the market appears to have cooled, leaving many ETF issuers almost no entries.
If CME proceeds with its spot trading business, it will operate through the EBS currency trading platform in Switzerland, the people say, referring to the region’s robust regulations governing the trading and storage of cryptocurrencies.
The US Securities and Exchange Commission (SEC) approved multiple Bitcoin ETFs in sight in early 2024 for listing on all U.S. registered national exchanges, including Nasdaq, NYSE and CBOE, following a decade-long search for these products.
And although the SEC has approved several spot Bitcoin ETFs, the watchdog has shown reluctance to quickly approve options for spot Bitcoin ETFs, raising concerns on whether options on spot crypto ETFs should be subject to the same regulations as stocks.