Argentina has seen the launch of its first Bitcoin futures contract, a significant step for Latin America.
) futures contract in Latin America. In a futures contract, buyers bet on the future price of a commodity or other asset, such as Bitcoin. Under the contract, buyers and sellers are obligated to purchase and sell the asset at a predetermined future date.
Argentina’s securities regulator, the Comisión Nacional de Valores, approved the Bitcoin futures index in April as part of an innovative agenda to encourage public-private collaboration for new financial products. The Bitcoin futures contract will be based on the price of BTC quoted by several market participants providing BTC/ARS trading pairs. All trades will be settled with Argentine pesos, and traders are required to make deposits through bank transfers.to local media reports, the product will initially be available only to institutional investors. There’s no clear timeline for when retail investors can trade Bitcoin futures contracts in the country.
to debut on June 30, the crypto futures contract is now expected to go live on Sept. 30. This is the second time the product release has been delayed.on July 4, jumping 3.2% from the previous week. With the surge in BTC derivatives demand, traders question whether the market is experiencing “excessive excitement” or is returning to normal after a prolonged bear market, Cointelegraph reported.
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