- The launch of the CME bitcoin futures contract comes a week after the first bitcoin futures launched on an established exchange, the Cboe Futures Exchange.
- Bitcoin CME futures went negative in early trading, a stark contrast from the 19 percent surge in CBOE bitcoin futures on their first day of trading a week ago.
- As of 7 p.m. New York time, the futures were slightly higher by about 75 points.
CME, the world's largest futures exchange, launched its own bitcoin futures contract Sunday under the ticker "BTC."
The futures fell more than 4 percent to $18,665 about two hours after opening at $20,650 and rising slightly.
The move lower was a stark contrast from the 19 percent surge in CBOE bitcoin futures during their first day of trading a week ago. The Cboe bitcoin futures, traded under the ticker "XBT," rose more than 2 percent to $18,530 Sunday evening, ET.
Bitcoin itself fell about 4.8 percent at $18,161, according to the CoinDesk bitcoin price index. CoinDesk tracks prices from digital currency exchanges Bitstamp, Coinbase, itBit and Bitfinex.
Bobby Cho, head trader at major bitcoin trading company Cumberland, a subsidiary of DRW, pointed out that the CME futures were trading closer to the actual price of bitcoin than the Cboe contract had at launch last Sunday.
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