The world may soon be paying for a massive bitcoin futures contract that will allow traders to trade bitcoin futures on the Tokyo Stock Exchange, as Reuters reports.
The price of bitcoin, which was worth just under $500 at the start of this year, has soared to over $1,100.
It’s also the subject of a major Wall Street Journal article, which reports the futures will begin trading in the third quarter of 2019.
Reuters reports the Wall Street firm, which has reported that more than 1,300 large investors have participated in the contract, has also secured contracts with US-based brokerage firms.
The deal could also lead to another major bitcoin futures boom.
Reuters reported that it was already planning to begin trading the futures contracts as soon as early October, according to a source familiar with the plans.
The Wall Street journal reported that a source told it that “a large number of major institutional investors have agreed to participate in the new bitcoin futures contracts” and that the deal is expected to be completed in the first quarter of 2020.
The Wall Street Times reported in November that US-listed bitcoin futures were likely to be offered in 2018.
The US Securities and Exchange Commission (SEC) announced on Wednesday that it had launched an investigation into the futures, which could result in criminal penalties for those involved.
Reuters said the futures would be sold on a daily basis and would be subject to the same regulatory restrictions as any other futures contract, including the requirement to have “market makers” on the order sheet.
The SEC also said that it would investigate whether futures were being offered on an unregulated basis and whether they could violate the Commodity Exchange Act, which regulates the trade of futures.
The Reuters report comes as the Wall Market Journal reported that one of the biggest bitcoin miners, BTCC, had halted trading on its bitcoin futures as the price of the virtual currency surged to record levels.
BTCC was the first of the largest bitcoin miners to suspend trading following the price surge.