Analysts and traders point to several hurdles. There needs to be plenty of market makers—traders willing to post price quotes throughout the trading day—to ensure liquidity, the crucial ability to do trades without significantly moving prices. A liquid market helps an investor buy or sell a future or option without prices for the contracts moving significantly. Derivatives veterans also raise questions such as how to price futures or options of digital currencies. Bitcoin is also traded on multiple exchanges around the world. Prices for the cryptocurrency are often inconsistent across different venues, and pricing derivatives based on them could also be problematic, they say.

https://www.wsj.com/articles/bitcoin-futures-may-be-coming-but-trading-hurdles-remain-1509474889