👔 First "physical" Bitcoin swap completed
Futures firm ED&F Man and crypto exchange itBit executed the first ever exchange-for-physical (EFP) transaction involving Bitcoin ($BTC) on the Chicago Mercantile Exchange. Prior to this, all BTC futures in the U.S. have been cash-settled. EFP transactions require that parties exchange the underlying asset itself, rather than its dollar value, and are common in commodity markets.
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