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Why Micro Bitcoin Futures Are A Game Changer

Bitcoin has risen over 100% in 2021 and has surged more than 600% in the past 12 months. It recently breached the $1 trillion market capitalization for the first time. Acceptance and adoption have driven bitcoin to current levels. Companies such as Tesla have indicated that they will accept bitcoin payments from customers, and fintech giants PayPal and Square offer users the ability to buy and sell cryptocurrency, and potentially even transact them at stores. The sheer market cap of the cryptocurrency space, which now stands at over $2 trillion, is simply too large for institutional investors to risk missing out. CME Bitcoin futures have witnessed 40 successful futures expiration settlements, with over 8,000 individual accounts trading the contracts. Year to date, 12,500 CME Bitcoin futures contracts (equivalent to approximately 62,300 bitcoin) have traded on average each day.

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - April 2021 | Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - April 2021 | Skadden, Arps, Slate, Meagher & Flom LLP
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Bitcoin ETF Announced: When Can You Buy It?

The world’s most popular cryptocurrency has entered North America’s mainstream financial market via the Purpose Bitcoin ETF. The first exchange-traded fund in the region will track bitcoin’s price through the TradeBlock XBX Index. Canadian regulators beat their American counterparts to the punch. The high trading volume (9.65 million shares) on February 18, 2021, the market debut, indicates a favourable reception and a strong demand. A would-be investor has two options to purchase the Purpose Bitcoin ETF. If you prefer a Canadian dollar-denominated, non-currency-hedged version, buy the BTCC.B. For the U.S. dollar-denominated ETF, pick the ticker symbol BTCC.U.

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