The futures contracts will trade on the Montreal Exchange and will be cash-settled and denominated in U.S. dollars, the exchange said.
"Montréal Exchange is launching the Bitcoin Price Index Futures to meet rising market demand for digital cryptocurrency asset classes,"on the firm's website said."Despite growing interest, investors face limitations when evaluating vehicles to manage their exposure to bitcoin price movements."
The futures will be cash settled in U.S. dollars, meaning that dollars change hands at settlement instead of the underlying instrument . The futures settlement value The development comes as traditional financial firms continue expanding their digital asset services. The Chicago Mercantile Exchange , already a key venue in the U.S. to trade BTC futures, earlier this year
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form ofKrisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
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