Both the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME) have released details on the upcoming futures trading for the cryptocurrency Bitcoin. Both companies are planning launches of Bitcoin contracts barring any legal or regulation delays.

CME

CME had previously announced that its Bitcoin futures product would be available for trading on December 11. However, according to Reuters, that was an error and the actual date has not yet been set. CME’s website now simply says that Bitcoin futures will come sometime before the end of the year. Contracts will be 5 BTC, and spot position limits will be set at 1000 contracts. Further, the tick (the smallest possible price fluctuation) is set at $5 for each BTC in a contract, or $25 total.

CBOE

In a similar statement, the CBOE released details regarding their intention to begin offering Bitcoin futures products under the ticker XBT. While still under regulatory review, the CBOE blog contained specific details on the nature of the futures contracts. Unlike the CME contracts, CBOE contracts will be 1 BTC, and the tick will be set at $10.

Both announcements have made headline news and have driven the Bitcoin price to new all time highs. While the future remains somewhat unclear, adoption by institutions will certainly have positive benefits for the cryptocurrency. According to the CBOE CFA Russell Rhoads: