Breaking: London Stock Exchange To Launch Bitcoin Futures And Options Trading
London Stock Exchange Group (LSE) on Thursday said it will offer Bitcoin index futures and options derivatives trading and clearing services this year. The LSE has partnered with a digital trading platform to provide users with an option to invest in Bitcoin.
London Stock Exchange partnered with Global Futures and Options (GFO-X) to launch UK’s first regulated Bitcoin futures and options trading, reported Reuters on April 13.
Great Britain has taken a cautious approach to crypto adoption while it prepares to become a global hub for crypto. It also launched a public consultation on future rules for crypto assets, which remain unregulated currently.
GFO-X allows global institutional investors to trade digital asset derivatives. London Stock Exchange Group Paris-based LCH SA clearing arm will introduce DigitalAssetClear, a clearing service for cash-settled dollar-denominated digital assets traded on GFO-X.
The launch of Bitcoin futures and options trading is expected in Q4 2023. Currently, the clearing service is pending approval from French regulators.
Arnab Sen, chief executive and co-founder of GFO-X, said:
“Recent market events in the trading of digital assets have highlighted the need for a safe, regulated venue where large financial institutions can trade at scale, while keeping their clients’ assets protected.”
London Stock Exchange agreed that Bitcoin index futures and options are increasingly becoming a growing asset class amid recent events such as the banking crisis in the U.S. Moreover, the UK has witnessed increasing interest in crypto from institutional investors.
Also Read: Bitcoin Bull Run Imminent; BTC New ATH Soon?
Nasdaq To Offering Crypto Custody
Traditional financial service providers slowing adopting crypto trading and other services due to increased demand from investors. Major banks such as J.P. Morgan, BlackRock, Morgan Stanley, and Goldman Sachs have eneted the market in some ways.
In March, exchange operator Nasdaq announced that it is expecting to launch its crypto custody services by the end of the second quarter through its digital assets arm Nasdaq Digital Assets.
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