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What are you searching for? 1,000 more than a bitcoin today. 1,000 above the spot price. 18,000 on Cboe, wait a month, sell the bitcoin and deliver the cash to settle the future. 1,111 — minus your cost of borrowing — would be risk-free profit. Cboe Chief Executive Officer Ed Tilly said on Bloomberg Television Monday, less than a day after launching the product.
It’s an illiquidity, it has to go away. I think you can imagine two rough sorts of explanation for the gap: efficient markets, and inefficient markets. The efficient-market explanation assumes that, if bitcoin futures trade above spot, then that is the market’s way of telling us that a synthetic bitcoin is actually worth more than a real bitcoin. 3 to rent a tanker to store it. I half-joked yesterday that “perhaps the cost of bitcoin storage — keeping your private key in a vault, worrying about hackers, etc.