Goodbye CBOE, we hardly knew you

The CBOE announced they would no longer be making bitcoin futures products/markets.

This might sound like terrible news at first, however, I don't think it is.

For one these are price settled contracts meaning they are basically just a bet on the direction of bitcoin without much affect on the underlying.

Also, look at what has happened to the price since they launched:

(Source: https://twitter.com/AlexSaundersAU/status/1106515358934925312)

Pretty much been straight down ever since.

Not sure if they had anything to do with that or not, but it's certainly possible.

The volumes had been pretty small and were getting smaller as of late.

The CME bitcoin futures products are much more robust.

This could also be a sign that they are planning on being a part of physically settled product that will be much more popular.

We will see!