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Breaking: London Stock Exchange To Launch Bitcoin Futures And Options Trading

London Stock Exchange Group (LSE) to offer Bitcoin index futures and options derivatives trading and clearing services this year.
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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?

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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.

Also Read: Ethereum Price Hit $2000, Likely To Outperform Bitcoin This Year

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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