Does the Introduction of Futures Improve the Efficiency of Bitcoin?

The introduction of futures on Bitcoin eases the access of institutional investors to the market and offers an efficient way to short the cryptocurrency. We investigate the effect of this event on the market's price efficiency and find the Bitcoin market to turn efficient. We conduct commonly used tests for market efficiency and check the robustness of our results by investigating Bitcoin Cash, a hard fork of Bitcoin, where we do not find a change in market's efficiency

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Year of publication:	2020
Authors:	Köchling, Gerrit
Other Persons:	Müller, Janis (contributor) ; Posch, Peter N. (contributor)
Publisher:	[2020]: [S.l.] : SSRN

Extent:	1 Online-Ressource (8 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Finance Research Letters, Vol. 30, 2019 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 24, 2018 erstellt
Other identifiers:	10.2139/ssrn.3129624 [DOI]
Classification:	G12 - Asset Pricing ; G14 - Information and Market Efficiency; Event Studies ; G23 - Pension Funds; Other Private Financial Institutions
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012852786