ICE Now Trades Bitcoin

Today is a big day for Bitcoin. It’s now traded at ICE.

Monday marks the debut of futures contracts offered by Intercontinental Exchange Inc. that can result in delivery of the digital currency, a new chapter in Bitcoin’s tumultuous 10-year history. The first federally regulated market to buy and sell Bitcoin could entice conservative investors who have so far stayed on the sidelines to begin adding the digital asset to their portfolios, according to industry analysts. It also furthers efforts to create a market structure for financial professionals to take the digital asset seriously.

“The move to centralize and create a scalable infrastructure for crypto asset investment” is “a positive step,” said James Putra, head of product strategy at TradeStation Crypto. Because the ICE contracts will deliver actual Bitcoin, an investor can potentially profit first from the rise in the futures price and then take possession of the coins, he said. “I can capture both pieces and continue to ride that upward.”

Posted by on September 23rd, 2019 at 9:38 am


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