Terry Duffy, CEO of The Chicago Mercantile Exchange (CME), has revealed the firm will not introduce futures on cryptocurrencies other than bitcoin (BTC) in the near future. In a recent interview, Duffy made clear the need to develop an approach for bitcoin; the induction of bitcoin futures at CME was a highly controversial launch in itself. He sees altcoins as a highly volatile and therefore an unattractive option for the exchange right now. Bitcoin is currently trading around $11,000 per coin, down from its all-time high above $20,000 hit just over two weeks ago.
Terry Duffy, CEO of The Chicago Mercantile Exchange (CME), has revealed the firm will not introduce futures on cryptocurrencies other than bitcoin (BTC) in the near future. In a recent interview, Duffy made clear the need to develop an approach for bitcoin; the induction of bitcoin futures at CME was a highly controversial launch in itself. He sees altcoins as a highly volatile and therefore an unattractive option for the exchange right now. Meanwhile, CME's biggest competitor CBOE, which launched bitcoin futures a week before it, is '“definitely monitoring other markets”, CBOE’s Dennis O'Callahan revealed.