Bybit announced Thursday that it will curl out a BTC/USD quarterly futures contract on Nov. thirty. Two contracts volition exist offered at launch — BTCUSD1225, settling on Dec. 25, 2020, and BTCUSD0326, which will be settled on March 26, 2021.

Bybit says the new futures contracts accept no funding fee, which means traders tin can concur the position without charge as long as the contracts are still in effect.

Similar traditional futures contracts, Bitcoin (BTC) futures allow traders to purchase and sell the digital currency at a predetermined price at a specific future engagement.

Bybit isn't the first crypto trading platform to offer quarterly Bitcoin futures. Binance, a Malta-based exchange with the highest daily book, launched its quarterly BTC futures contracts in January.

Need for crypto derivatives is on the rise as more institutional investors come into the fold. Recent data from Wilshire Phoenix suggest that CME Bitcoin futures are having a significant impact on the digital currency's toll.

The report claimed:

"CME Bitcoin futures have grown to become significant, this is not just demonstrated through trading book and open interest, but besides by influence on spot cost germination."

Launched in December 2017, CME Bitcoin futures are now the second-largest BTC futures exchange by open interest. The top spot belongs to OKEx, according to data analytics business firm Skew.

Institutions are increasingly viewing Bitcoin every bit a long-term investment opportunity. The likes of Paul Tudor Jones and Stanley Druckenmiller accept likewise thrown their weight backside the flagship digital currency, potentially signaling a shift in institutional thinking.