The contracts that were seen as a step toward bringing crypto to Wall Street still remain a tiny market 10 months after they launched with the Cboe and CME combined trading about 9,000 contracts a day in Q3 2018.
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Ten months later, some of the hopes for Bitcoin futures look more like pipe dreams. Cboe and CME combined traded about 9,000 contracts a day in the third quarter. “It has not been what you would call a roaring success,” says Craig Pirrong, a finance professor at the University of Houston and an expert on futures trading. “Institutional players have stayed on the Bitcoin sidelines, and as long as they are, the futures contracts are likely not to generate substantial amounts of volume.”
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