Bybit rolls out a BTC/USD quarterly futures contract today. Two contracts will be offered at launch BTCUSD1225 by settling on December 25, 2020, and BTCUSD0326, which will be settled on March 26, 2021.
It has been reported that the new futures contracts have no funding fee, which means traders can hold the position without charge as long as the contracts are still in effect.
However, like traditional futures contracts, Bitcoin (BTC) futures allow traders to buy and sell the digital currency at a predetermined price at a specific future date.
The report said that Bybit is not the first crypto trading platform to offer quarterly Bitcoin futures. Binance launched its quarterly BTC futures contracts in January.
Likewise, demand for crypto derivatives is on the rise as more institutional investors come into the fold.
Recent data from Wilshire Phoenix suggest that CME Bitcoin futures are having a significant impact on the digital currency’s price.
Thus, the report claimed:
“CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading volume and open interest, but also by influence on spot price formation.”
Source: Cointelegraph
Disclaimer
Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.
Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.
We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.
