CME to launch bitcoin futures in three weeks after green light from regulator; bitcoin jumps

CME announced Friday its new bitcoin futures contract will be available for trading on Dec.18.

The world's largest futures exchange said it had self-certified the initial listing of its bitcoin futures contract to launch on Dec. 18. Terry Duffy, CME Chairman and CEO, had previously said bitcoin futures would list in the second week of December.

Bitcoin traded 6 percent higher at $10,512, according to CoinDesk. 

The Commodity Futures Trading Commission said CME and the Cboe Futures Exchange completed the self-certification process for bitcoin futures. The Cantor Exchange also self-certified a new contract for bitcoin binary options, the commission said. 

The CFTC does not approve derivatives contracts or endorse their underlying assets. 

"Commission staff held rigorous discussions with CME over the course of six weeks, CFE over the course of four months, and had numerous calls with Cantor," a CFTC release said.

"Bitcoin, a virtual currency, is a commodity unlike any the Commission has dealt with in the past," said CFTC Chairman J. Christopher Giancarlo. "As a result, we have had extensive discussions with the exchanges regarding the proposed contracts, and CME, CFE and Cantor have agreed to significant enhancements to protect customers and maintain orderly markets."

In a separate release Friday, Cboe said it has filed a product certification with the Commodity Futures Trading Commission to offer bitcoin futures trading. The certification is subject to regulatory review and a launch date "will be announced shortly," according to a release.

A Cboe spokesperson told CNBC the bitcoin futures launch is expected "probably before the end of the year."

Source: CNBC