Futures on the world’s most popular cryptocurrency surged as much as 26 percent in their debut session on Cboe Global Markets Inc.’s exchange, triggering two temporary trading halts designed to calm the market. Initial volumes exceeded dealers’ expectations, while traffic on Cboe’s website was so heavy that it caused delays and outages. The website’s problems had no impact on trading systems, Cboe said.
“We’re in the early stages here, and there’s not enough professional liquidity from the big market makers who can provide depth and hold in the movements,” said Stephen Innes, head of trading for Asia Pacific at Oanda Corp. “It’s going to be a learning curve.”
It’s been painful for investors stuck on the sidelines. This year alone, bitcoin is up more than 1,600 percent. The surge has been driven largely by demand from individuals, with technical obstacles keeping out most big money managers like mutual funds.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.