CFTC approval of bitcoin perpetual futures triggers sell-off in exchange stocks
By
Alex Harring
10d ago· 5 min readenNews
92/100
Golden Brown
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Score92TypenewsSentimentnegative
Summary
The CFTC's approval of perpetual futures for bitcoin has sparked a sell-off in exchange stocks like CME Group and Cboe Global Markets, as investors fear increased competition from new trading products that could disrupt the traditional dominance of established Wall Street exchanges.
Key quotes
· 3 pulledShares of exchange stocks are tumbling after the regulatory approval of perpetual futures for bitcoin ignited concerns that a new wave of trading products could be coming for Wall Street.
CME Group, known for its derivatives and futures trading platforms, dropped more than 3% in Tuesday's session and is down around 9% the last two days.
Investors are worried about increased competition for the traditional exchanges that have long dominated on Wall Street.
Investors are worried about increased competition for the traditional exchanges that have long dominated on Wall Street.
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