In a landmark development for the Canadian digital assets market, TMX Group, the largest exchange in the country, is set to launch Bitcoin futures contracts on its derivatives trading platform.
The report indicates that many investors are often limited as they look to join the crypto space, especially when managing their exposure to Bitcoin price fluctuations. As such, the network notes that the new Bitcoin Price Index Futures from MX will enable investors to “hedge exposure to Bitcoin spot trading” while exploring other opportunities in the evolving cryptocurrency space.
Per the network’s statement, the futures contracts will trade on the Montreal Exchange and be cash-settled in U.S. dollars, with the clearance done at the Canadian Derivatives Clearing Corporation .Later, in 2022, rumors were circulating that the network was considering the launch of a cryptocurrency futures product to attract institutional investors.
As the exchange plans to launch its product, it is worth noting that the Canadian spot ETF market has been
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