Financial institutions are suddenly scrambling to offer bitcoin-related investment products. Given their opposition to cryptocurrencies for many years, this change of heart is rather intriguing. bitcoin futures are seemingly the go-to product for banks and trading platforms. Tokyo Financial Exchange is the latest institution to get on this bandwagon. Consumers in Japan demand more exposure to bitcoin, which is a positive sign.
It is always interesting to see how banks are eating their words when it comes to bitcoin. For many years, these companies deemed this cryptocurrency unworthy. In late 2017, they are forced to introduce bitcoin-related investment products. While introduce even more price volatility, it is also a positive change. Exposing institutional investors to cryptocurrency can have some surprising results in the long run.
Tokyo Financial Exchange Embraces bitcoin Futures
With getting on board, the future looks very bright. This company is one of Japan’s top financial exchanges today. Their bitcoin futures products will launch in early 2018. No specific date has been announced at this time. The company follows the examples set by CBOE and CME, among others. Rest assured we will see more financial players offer bitcoin-related products soon.
Moreover, it seems Tokyo Financial Exchange has other big plans as well. A study group will be formed to gain a better understanding of cryptocurrencies. This group will also monitor the futures market and look for ways to improve this product. Given the positive bitcoin regulation in , this process shouldn’t be too cumbersome to complete. Japan is one of the few countries approved bitcoin as legal tender. Most other regions continue to oppose cryptocurrency at every possible turn.
No one can deny bitcoin captivates an audience on a global scale. The world’s leading cryptocurrency has shocked a lot of people in recent months. Although it is not perfect, it makes for a great speculative vehicle. In terms of using it as an actual currency, your options are still somewhat limited. These futures contracts provided by Tokyo Financial Exchange will impact bitcoin as a whole. Whether that will be positive or not, remains to be determined.
The post appeared first on .