Bitcoin has reached $ 7.000 in just a few days, driven by the important announcement of the CME Group, to regulate a futures fund based on this cryptocurrency.
Bitcoin's value escalation continues unabated and from $ 5.750, which it was worth on October 28, today we see it above $ 7.000. We have already exceeded the value of $ 6.000, planned for December and which is driven, among other things, by CME Group. We are facing a great moment for this cryptocurrency, which has strongly supported the manipulation attempt by China and Jamie Dimon, CEO of JP Morgan. Now, you already know the saying: 'everything that goes up, has to come down.'
On Tuesday it was announced that CME Group, the largest investment agency, announced that it wanted to work on trading Bitcoin-based futures at the end of 2017, but with the relevant regulation. CME Group is the largest futures and options agency in the world and among others, owns the Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, Kansas City Board of Trade and co-owner of Dow Jones Indices.
Bloomberg, after the information that established CME's entry into the Bitcoin market, this cryptocurrency became 'legitimate', within the sphere of conventional finance. CME Group is the latest to get on Bitcoin and its importance makes it a great option in traditional markets. Previously, the Chicago Board Options Exchenge (CBOE) and the opening of a futures regulation market based on the LedgerX BTC have already been postulated in this sense of the options and futures of the BTC.
For this cryptocurrency to operate in regulated markets, among other entities, in the CBOE and CME (as we are saying), it is possible that the exchange-traded funds (ETFs) of this cryptocurrency, will be possible soon. We must remember that the SEC received a request from Winklevoss Twins for the registration of ETFs based on the cryptocurrency, something that was rejected by the US regulatory body, but also commented that they wanted to reconsider the decision if regulated futures markets appeared.
