Bitcoin futures surge past $17,000 on launch day
The front-month bitcoin futures contract
The January contract opened at $15,460 in New York on Sunday evening, before leaping to a high of $17,170 during Asian hours. They were last quoted at $17,120, a more than $1,000 premium to the price on Gemini Exchange.
The futures are cash-settled contracts based on the auction price of bitcoin in U.S. dollars on the Gemini Exchange, which is owned and operated by virtual currency entrepreneurs Cameron and Tyler Winklevoss.
(Reporting by Swati Pandey; Editing by Kim Coghill)