Bitcoin rises on futures trading debut on major US exchange. getlinkinfo

Bitcoin has begun trading on a major exchange for the first time in what is being regarded as a step towards legitimising the digital currency.

Bitcoin rises on futures trading debut on major US exchange

Trading opened at 23:00 GMT Sunday on the Cboe Futures Exchange in Chicago, valuing Bitcoin at $15,000.
The currency's futures were volatile for the first 20 minutes, rising to about $16,600 before dropping back.

Bob Fitzsimmons at Wedbush Securities said about 150 trades were made in the first few minutes: "It's quiet."

The Cboe's move is expected to be followed next week by a rival listing on the Chicago Mercantile Exchange.

Anticipation of the first mainstream listings have helped the controversial currency soar past $10,000 and then over $17,000 on Thursday before retreating. Bitcoin was trading at about $15,230 on Monday, according to Coindesk.com.

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Nick Colas, of Data Trek research, said the futures listings gave Bitcoin "legitimacy - it recognises that it's an asset you can trade".

Futures are a type of derivative contract that allows trading based on movements in Bitcoin prices, without requiring ownership of the currency itself.

The start of the Cboe market was low key, with "no champagne", an exchange insider said.


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