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The Latest: Bitcoin futures rise after trading slows website

Business Insider UK
Updated

CHICAGO (AP) — The Latest on the debut of bitcoin futures trading (all times local):

6:05 p.m.

After an initial hiccup, the first-ever bitcoin futures rose in early trading. The futures rose $540 to $16,000 on the Chicago Board Options Exchange.

The start of trading overwhelmed the website of the Chicago Board Options Exchange. "Due to heavy traffic on our website, visitors to www.cboe.com may find that it is performing slower than usual and may at times be temporarily unavailable," the exchange said in a statement. But it said the trading in the futures had not been disrupted.

Bitcoin is a digital currency that has exploded in popularly and volatility this year. Sunday marked the first time bitcoin futures have traded on a major U.S. exchange.

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The CBOE futures do not involve actual bitcoin; they're securities that will track the price of bitcoin on Gemini, one of the larger bitcoin exchanges.

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