The Chicago Board options Exchange (CBOE) won't add a brand new Bitcoin (BTC) futures market in March, the firm said in an exceedingly statement on March 14.

Per the statement, CBOE is re-evaluating however it approaches trading digital assets. CBOE said:

“CFE isn't adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March 2019. CFE is assessing its approach with reference to how it plans to still provide digital asset derivatives for trading. Whereas it considers its next steps, CFE doesn't presently intend to list extra XBT futures contracts for trading.”

The presently listed futures, XBTM19, can expire in June. CBOE notes that each one presently listed future are still offered for trading.

In Dec 2017, CBOE launched Bitcoin futures trading, followed closely by its challenger, the Chicago Mercantile Exchange (CME).

Futures contracts offer investors exposure to an underlying plus — during this case Bitcoin — while not the requirement to truly own any. Instead, investors obtain contracts that track the underlying worth of the asset and speculate on whether the contract price can increase or decrease by its expiration date. Within the case of the CBOE Bitcoin futures market, the distinction is then settled in U.S. dollars.

Earlier on, a report from Bloomberg expressed that the Bitcoin worth might be headed for an additional giant selloff. Analysts said that key technical indicators like the Moving Average Convergence Divergence had been moving downward since mid-February. Bloomberg analyst mike McGlone said:

“The entire business is ripe to resume a path to lower costs. Conditions are like Nov [2018], simply before the collapse...”

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