Bitcoin Futures -- It's official, the first bitcoin futures have been approved by the CFTC

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Bitcoin futures are approved by the Commodity Futures Trading Commission (CFTC). The approval comes weeks after the Securities and Exchange Commission (SEC) approved the now-defunct Bitcoin ETF.

Both CFTC and SEC are based in Washington, D.C. And they were believed to cooperate in regulating cryptocurrencies.

It's official: the first bitcoin futures have been approved by the CFTC. pic.twitter.com/I7cMZv0jZO – Bloomberg (@business) March 27, 2019

Bitcoin futures are a new type of derivative contract designed to give investors the opportunity to bet on price movements in the cryptocurrency market without owning the Bitcoin itself. To date, there are three different types of option contracts on Bitcoin futures.

There are short positions (in which investors can bet on price increases), long positions (in which investors can bet on price increases), and various combinations of the two options.

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