Chris Concannon, president of Cboe Global Markets, Inc., stated that offering bitcoin futures is a smart deal. It is a response to user demand and the belief that digital currencies will continue to grow worldwide. Cboe Global Markets Inc. is one of the three entities who will be offering bitcoin as futures.
“We are big believers in cryptocurrency markets. I actually believe that national currencies will begin issuing digital currencies. So, this first step is a very big step into what I see as a growing market,” Concannon emphasized in a recent interview.
The Cboe began talking to the U.S. Commodity Futures Trading Commission months ago about offering cryptocurrencies due to client demand according to Concannon. The bitcoin market is growing quickly and the ability to be on gains and declines will help smooth the volatility.
“Over the next 10 years we believe that the cryptocurrency market will explode in term of the assets that they touch, the currencies that they involve,” reiterated Concannon.