Renaissance Technologies will open up the ability to buy Bitcoin futures
Bitcoin futures trading fell to lows
New hedge fund ready to provide new CME futures trading service
Rising interest in futures signals market recovery
International consortium of news organizations developing transparency standards.
Hedge Fund Renaissance Technologies is launching a new feature for its clients. Users will now be able to purchase bitcoin futures on CME (Chicago Mercantile Exchange Center).
Launched in 2017, CME Bitcoin Futures offers cash settlement without the need to provide cryptocurrency, allowing investors to speculate on the price of the coin. The first quarter of 2020 saw an increase in the number of new accounts trading Bitcoin futures contracts at CME Group. However, the number of large traders and hedge funds using this product fell to lows in March.
By the way, BeInCrypto recently reported that CME futures are signaling a bull market. While some cryptocurrency platforms such as BitMEX, Deribit, FTX and Kraken are still not entirely sure about Bitcoin’s near-term fate, futures are trading significantly higher on the Chicago Mercantile Exchange (CME). The premium for June contracts on CME increased from ~ 5.5% to 7.39% per annum, while on other sites the premium is only 0.19%.
The Renaissance ADV, which offers investors information about its business practices, highlights the risk of trading bitcoins and their derivatives:
The underlying commodity for these futures transactions, Bitcoin, is a relatively new and highly speculative asset. Bitcoin and Bitcoin-based futures are extremely volatile and investment results can vary significantly over time. These instruments are associated with significantly higher risk and potential losses, unlike traditional financial instruments. Investments of this type should be considered significantly more speculative, and may ultimately lead to a loss of investor capital.
We will remind that earlier BeInCrypto wrote that Bitcoin futures are recovering after the March fall. The amount of open positions in Bitcoin futures contracts has finally started to rise after an unprecedented drop in March. Steady growth is now.
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