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Bybit Rolls Out A BTC/USD Quarterly Futures Contract

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.

The rise of #Bitcoin futures continues. On Thursday, Bybit announced it will soon launch a quarterly BTC futures contract. — Cointelegraph (@Cointelegraph) November 26, 2020

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



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