The result, so far, is good for Bitcoin: The price is at $16,939 according to CoinMarketCap, up roughly 23% in the last 24 hours. It opened at 5 p.m. CST at $15,000, according to CBOE Global Markets.
The CBOE's competitor exchange, the Chicago Mercantile Exchange, will start trading its own futures on 18 December, while Nasdaq is also considering offering Bitcoin futures in early 2018. As of 9:10 p.m. CST, it was at $16,405.76 on Coindesk.
Bitcoin's meteoric rise has got many concerned that it's fast building a bubble that's too fragile and may burst anytime soon. The futures rose $540 to $16,000 on the Chicago Board Options Exchange.
It has received such a wild reception that heavy traffic crashed the exchange provider's website and high volatility halted trading for two minutes. At launch, CBOE tweeted to warn that its website was running slowly and could be temporarily unavailable.
And the trading of its futures has predictably come under similar skepticism from doubters, who worry that the new market could be exposed to hacks, technical snafus or manipulation schemes.
This was Bitcoin's big year, but where does it go from here? The launch of Bitcoin futures on major US exchanges is especially important as it lets large investors (including institutional ones) to invest without actually buying Bitcoin.
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.