What Happened: Why the First US Physical Bitcoin Futures Haven't Launched | Crypto Craft

  • What Happened: Why the First US Physical Bitcoin Futures Haven't Launched

    From coindesk.com

    LedgerX admitted Thursday that it has not launched bitcoin futures, as the firm had previously claimed, after the U.S. Commodity Futures Trading Commission (CFTC) said it had not approved the exchange to do so. The company previously told CoinDesk it was planning to launch the product on Wednesday. LedgerX would have been the first venue in the U.S. to offer physically-settled bitcoin futures, which are contracts that pay out in the underlying cryptocurrency rather than in cash. “Not only are they delivered physically in the sense that our customers can get bitcoin after the futures expires, but also they can ... (full story)

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TwoSense
Aug 1, 2019 4:50pm
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I'm usually on the side that thinks the US regulators don't know how to handle this new market. But LedgerX wants to physically settle their futures contracts? Good luck with all that. How do they expect people to take delivery? Many investors want to participate in futures and derivatives (hopefully ETFs soon) because they'd have no idea how to store bitcoin. We are a long way from any physical settlement in bitcoin or any other cryptocurrency that might get listed. One step at a time people!
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vanillaice
Aug 1, 2019 3:54pm
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LOL this is a mess. Their CEO was tweeting about suing the CFTC!! Bold strategy, let's see how it works out for em...
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