The Chicago Mercantile Exchange (CME), the world's largest derivatives exchange, is reportedly planning to launch Bitcoin spot trading. CME already permits Bitcoin futures trading.
According to major foreign media on the 16th (local time), CME has recently been in ongoing discussions with market participants interested in buying and selling Bitcoin spot. This initiative has gained momentum since the U.S. Securities and Exchange Commission (SEC) approved a Bitcoin spot exchange-traded fund (ETF) in January.
As Bitcoin trading enters the regulatory framework, demand from major investors has increased significantly, and some of the world's largest financial institutions, which previously held pessimistic views on virtual assets, are now adopting a more optimistic stance. However, CME did not comment when foreign media requested confirmation.
If CME allows Bitcoin spot trading, virtual asset investors are expected to find basis trading easier. Basis trading refers to profiting from the difference between spot prices and futures prices.
This year, CME surpassed the cryptocurrency exchange Binance to become the world's largest Bitcoin futures exchange. CME currently holds approximately 26,000 open positions valued at about $8.5 billion, more than double the amount from a year ago. If spot trading is also permitted, CME is expected to further solidify its dominance in market share.
Foreign media reported that CME's spot trading business will be operated through Switzerland's EBS currency exchange, which has extensive regulations concerning cryptocurrency assets.
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