More than gold? Bitcoin transactions beyond the world’s largest gold ETF
A few weeks ago, Goldman started covering bitcoin. Subsequently, the bank said in a report, bitcoin is still large fluctuation and high risk. The United States bank commodity strategist FranciscoBlanch said, bitcoin is not associated with any financial assets, there is no way to explain, let alone predict performance.
However, in the past 6 months, bitcoin trading volume continued to increase. Now, bitcoin even more popular than gold, bitcoin daily trading volume exceeded the world’s largest gold ETFGLD.
As the Bank of the United States pointed out: “it’s hard to ignore such as bitcoin and other major digital currency trading volume surged in recent years. In 2012, bitcoin daily trading volume of $400 million, and now has risen to about $2 billion. This means that the daily trading volume of bitcoin has exceeded GLD.
With the increase in trading volume, bitcoin also won the attention of regulators.
The Commodity Futures Trading Commission (CFTC) said on Monday that it has been to New York a bitcoin exchange option LedgerX licenses, allowing the transaction and settlement bitcoin derivatives contracts. This is the first time for CFTC to digital currency derivatives trading licence.
The license LedgerX to provide clearing services for the digital currency fully collateralized swap. The goal of LedgerX is to provide a digital currency fluctuation risk hedging derivatives for institutional investors.
The company’s chief executive officer PaulChou said: “the regulation finally mature, institutional investors will be able to get bitcoin and bitcoin derivatives. Our goal is that when investors deal with us, and the trading of gold and crude oil can be obtained as supervision.”
Heard on the street mentioned earlier, previously, due to the lack of related facilities, to bet on bitcoin derivatives market traders have to strictly carry out transactions in the OTC market. But now at CFTC derivatives clearing agency LedgerX qualification, it will be the first federal regulatory bitcoin options exchange and clearing house. At that time, traders will be able to present institutions trading in bitcoin related derivatives.