Former CFTC Chair Chris Giancarlo: Futures Bring Bitcoin (BTC) Out of the Dark

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Bitcoin futures signal the maturation of the market, stated Chris Giancarlo, former chair of the Commodities Futures Trading Commission and one of the mainstream Bitcoin (BTC) proponents. He stated that the futures markets have grown significantly in the past year, to about 50% of the spot market volume.Giancarlo sees the futures markets as a source of new liquidity, which, however, may not push up the prices in speculation.BTC futures are now evolving, with different types of markets. The fully regulated CME futures and the Bakkt market by the ICE are one side of the equation, which are still attracting tentative volumes. BitMex and Binance futures are coming in from the fully crypto-based side.Giancarlo also sees futures as a stabilizing force, because of the types of traders flocking to the markets. The traders are all well-capitalized entities, and not day-trader speculators. Traders include miners, dealers, venture investors, issuers, lenders, businesses, who…

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