CME Group Seeks to Track the Bitcoin Price

The world’s largest futures exchange CME Group has launched two indexes for tracking bitcoin’s price, setting the digital currency on a course of well-deserved (and mainstream) publicity.

Chief investment officer at Global Advisors Daniel Masters explained:

“There is tremendous, pent-up demand in the U.S. for bitcoin exposure that doesn’t require an investor to select one of the current bitcoin exchanges in order to invest.”

CME has been one of the year’s leading innovators in the field of cryptocurrency. When banks and finance institutions are studying the blockchain and creating their own currencies and related items in the sparks of a growing digital age, CME Group is no exception. The company made headlines last May when it joined hands with London-based bitcoin services firm Crypto Facilities Limited to develop “new cryptocurrency-based products.”

On its “frequently asked questions” page, CME explains why it is getting involved in bitcoin and what it can potentially offer:

“CME Group is committed to fostering open standards, diverse participation, and cultivating the highest standards and protocols as digital asset technology evolves. These products are designed to allow bitcoin traders, companies and other users rely on a credible reference rate price source. This is an important step to making bitcoin trading

Read more ... source: TheBitcoinNews

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