Move Over Pork Bellies: CME Group To Begin Trading Bitcoin Futures

Love Bitcoin or hate it, Wall Street’s establishment increasingly wants to trade it.

On Tuesday, CME Group the exchange giant that peddles in futures contracts of everything from eurodollars and Treasury notes to oil, natural gas, corn, livestock and even precious metals such as gold announced it would add crypto-currencies to its arsenal.

Later this quarter, CME will begin trading Bitcoin futures by way of a cash-settled contract based on its CME CF Bitcoin Reference Rate. The once-a-day rate will set the price of bitcoin futures and will be based on pricing seen on crypto exchanges such as Bitstamp, DGAX, itBit and Kraken.