Bitcoin Derivatives Market

Tera Exchange, the first U.S. regulated trading platform for bitcoin derivatives, currently offers ‘bitcoin forward,’ which is a short-term, USD-settled forward.

However, more exchange-traded bitcoin derivatives will be launching soon. Last month, Ledgerx received approval from the Commodity Futures Trading Commission (CFTC) to become the first regulated bitcoin derivative exchange and clearinghouse in the U.S. The company plans to start trading physically-settled bitcoin options in the fall.

Earlier this month, the Chicago Board Options Exchange (CBOE) announced that it is also creating bitcoin derivatives products, pending review by the CFTC. Their cash-settled bitcoin futures are expected to be available either later this year or early next year.

The SEC has already rejected proposed rule changes for two bitcoin ETFs; Coin and Solidx Investment Trust. The former is currently under review again as Bats BZX Exchange filed a petition to reverse the SEC’s decision. Last month, the Commission postponed the date on which it was supposed to make a decision regarding Barry Silbert’s Bitcoin Investment Trust (GBTC) to October 7.