On Sunday, Bitcoin started trading on the world’s largest futures exchange, CME.
Front-month futures started trading at a session high of $20,650 and trades through Monday. It was last trading at $19,215 at the time of this writing.
CME set a reference price for the January contract at $19,500, $19,600 for the February contract, $19,700 for March and $19,900 for June.
The futures contract on Cboe, where Bitcoin started trading last week, was last trading at $19,280, which is up 6.5% for the day.
Contract volume on CME seems to have started a little slower than on Cboe. The former had a count of 630 a little after 11 pm Central Time, with the latter almost hitting 4,000 January contracts in its first session last week.
Several investors believe that CME might garner more attention from institutional investors, however, since the final settlement price is derived from multiple exchanges.
In contrast, the Cboe futures contract is derived from the closing auction price on Gemini, an exchange operated by the Winklevoss twins of Facebook fame.
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