The January contract opened at US$15,460 in New York on Sunday evening, before leaping to a high of US$17,170 during Asian hours. They were last quoted at US$17,120, a more than US$1,000 premium to the price on Gemini Exchange.
The futures are cash-settled contracts based on the auction price of bitcoin in US dollars on the Gemini Exchange, which is owned and operated by virtual currency entrepreneurs Cameron and Tyler Winklevoss.