The U.S. based bitcoin and ethereum exchange Gemini announced today the successful settlement of the first January expiry bitcoin futures, which trade on the Cboe Futures Exchange (CFE) under the ticker XBT.

Bitcoin futures launched on Cboe in December, Gemini is also the exclusive bitcoin market data partner of Cboe.

The settlement price was $10,900.00, as determined by Gemini’s 4 pm Eastern Time BTCUSD auction, and in which 616.86 bitcoin traded — a notional value of $6.72m USD.

Ed Tilly, Chairman and Chief Executive Officer of Cboe, stated: “This is an encouraging initial milestone, and we look forward to working with customers to power the growth of this nascent market.”

Cboe Global Markets, one of the world’s largest exchange holding companies, and Gemini Trust Company, a New York State regulated digital asset exchange and custodian, partnered to launch the first-ever bitcoin futures contract on December 10, 2017. Since inception, over 124,000 contracts have traded across expiries, representing a notional value of over $1.5bn USD.