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December 10, 2017 04:32 PM

Bitcoin Futures Set To Begin Trading Later Sunday

A security based on bitcoin, the digital currency that has exploded in popularly and volatility this year, will begin trading on a major U.S. exchange for the first time on Sunday.

The Chicago Board Options Exchange, one of the nation’s largest traders of options and futures in the U.S., will open up bitcoin futures for trading at 6 p.m. EST.

The CBOE futures do not involve actual bitcoin; they’re securities that will track the price of bitcoin on Gemini, one of the larger bitcoin exchanges. Another large futures exchange, the Chicago Mercantile Exchange, will start trading its own futures on December 18.

The price of bitcoin began the year below $1,000. As of 4:00 Sunday, bitcoin was quoted at $15,375 on the bitcoin exchange Coindesk.

© 2017 Associated Press. All Rights Reserved. Material may not be redistributed.

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