Wall Street got its first taste of bitcoin on Monday, with the price of the first-ever futures contract for the digital currency jumping 20 percent. 8, 2017, photo shows the Chicago Board Options Exchange website announcing that bitcoin futures will start trading on the CBOE herald sun bitcoin exchange Sunday evening, Dec. Bitcoin futures will start trading a week later on the Chicago Mercantile Exchange. Traders work in a trading pit at the Chicago Board Options Exchange, Monday, Dec.
11, 2017, in Chicago, as they trade futures and options unrelated to bitcoin. Trading in bitcoin futures began Sunday on the CBOE. It’s a step forward for the bitcoin, which has soared this year despite concerns that the surge of investor interest has transformed it from a new-age currency into just the latest speculative bubble. One prominent securities regulator warned that people were now taking out second mortgages on their homes to buy bitcoin. 18,545 on the Cboe Futures Exchange. 18,850, according to data from the Cboe. The bitcoin futures first day of trading was not entirely smooth.
The Cboe’s website crashed several times or slowed down, due to a surge of interest. The exchange halted trading twice on the first day to stem volatility. The exchange operator has rules in place to stop trading after price swings of 10 percent. The Cboe said at least 20 trading firms “actively participated” in the first day of trading, without giving specifics. The Cboe futures don’t involve actual bitcoin.