Physically liquidated bitcoin futures contracts offered by ErisX

The ErisX crypto derivatives platform has officially launched physically liquidated bitcoin futures contracts, similar to those offered by Bakkt.

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The company announced Monday in a market notification that “Futures Digital Currency Products” will start trading on Tuesday, starting at 2:00 PM UTC. The company has developed its new products for trading alongside crypto spot transactions.

According to the product page published Monday, ErisX’s bitcoin futures contracts are 0.1 bitcoin ($ 663 at current price). Customers can trade monthly or quarterly contracts upon launch. Traders will have a position limit of 200,000 contracts and a minimum price increase of $ 1 per bitcoin (or $ 0.10 per contract).

Although ErisX’s futures market opened on Tuesday, investors will only be able to participate through brokers and brokers starting next year. The company will announce an official date in the first part of 2020.

“We know that it will take a long time to generate interest among investors and that there are clear challenges.
Introducing an intermediary market is a multi-step process, and our experience with such releases has taught us how to build for longevity. ”

said the company on the official block.

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Physically liquidated bitcoin futures contracts in the US

ErisX was established in 2018 and has received support from several high profile companies on Wall Street. In April, the company launched the spot trading platform and announced that it plans to offer a variety of physically liquidated futures for bitcoin, bitcoin cash, ethereum and litecoin.

Currently, ErisX is only the second company to offer physically liquidated bitcoin futures contracts in the US, following the launch of Bakkt in September this year. Cash-settled bitcoin futures contracts have been trading in the US since 2017, when CME and Cboe launched their own products. Earlier this year, CBOE decided to suspend bitcoin futures contracts.