Bitcoin futures surge past $17,000 on launch day


SYDNEY (Reuters) – The front-month bitcoin futures contract XBTc1 on the Chicago-based CBOE Futures Exchange surged past $17,000 on Monday, the first day of trading.

Virtual currency Bitcoin tokens are seen in this illustration picture, December 8, 2017. Picture taken December 8. REUTERS/Dado Ruvic/Illustration

The January contract opened at $15,460 in New York on Sunday evening, before leaping to a high of $17,170 during Asian hours. They were last quoted at $17,120, a more than $1,000 premium to the price on Gemini Exchange.

The futures are cash-settled contracts based on the auction price of bitcoin in U.S. dollars on the Gemini Exchange, which is owned and operated by virtual currency entrepreneurs Cameron and Tyler Winklevoss.

Reporting by Swati Pandey; Editing by Kim Coghill

Our Standards:The Thomson Reuters Trust Principles.

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