Derivatives on #Bitcoin are beginning to be officially traded. The opening of the #LedgerX official BitCoin stock #exchange is seen as a first and turning point in Bitcoin's history.
LedgerX is based on Bitcoin options, #swaps and #forward transactions are done.
In the first week, about 20 institutional #investors traded 176 swaps and option #contracts with a total volume of $ 1 million.
New York based LedgerX operates with #licenses it receives from #regulators to provide both swap transactions and clearing services.
According to #BusinessHT, LedgerX received approval from the #US futures commission (CFTC), which accepted Bitcoin as commodity, in #July.
LedgerX will increase the demand for #Bitcoin
Bitcoin is running promotional campaigns to work with the stock exchange, asset managers, hedge funds, investment banks, family offices and of course bitcoin #miners. #Manukyan, who has been in evaluations on the subject of #Twitter account, shared his view that the talebin would increase with derivative transactions.
"This is an important development because all the ETFs outside the ETFs that are physically resilient in the #Gold, #Silver, etc., contain derivative products written on the substrate. So a healthy derivative market will come to mean a reasonable #ETF formation, that is, the demand for #money working on the traditional market. "
#LedgerX is expected to extend the deadlines soon and to incorporate new #cryptocoins, including #Ethereum, into the process.
