The Effect of the Launch of Bitcoin Futures on the Cryptocurrency Market: An Economic Efficiency Approach
comunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
comunitat-uji-handle4:
INVESTIGACIONMetadata
Title
The Effect of the Launch of Bitcoin Futures on the Cryptocurrency Market: An Economic Efficiency ApproachDate
2021-02-02Publisher
Multidisciplinary Digital Publishing InstituteISSN
2227-7390Bibliographic citation
Vidal-Tomás, D.; Ibáñez, A.M.; Farinós, J.E. The Effect of the Launch of Bitcoin Futures on the Cryptocurrency Market: An Economic Efficiency Approach. Mathematics 2021, 9, 413.Type
info:eu-repo/semantics/articlePublisher version
https://www.mdpi.com/2227-7390/9/4/413Version
info:eu-repo/semantics/publishedVersionSubject
Abstract
We analyze the economic efficiency of the cryptocurrency market after the launch of Bitcoin
futures by means of the Data Envelopment Analysis and Malmquist Indexes. Our results show that
the introduction of Bitcoin ... [+]
We analyze the economic efficiency of the cryptocurrency market after the launch of Bitcoin
futures by means of the Data Envelopment Analysis and Malmquist Indexes. Our results show that
the introduction of Bitcoin futures did not affect the economic efficiency of the cryptocurrency market.
However, we observe that Bitcoin obtained the highest risk-return trade-off due to its liquidity
compared to the rest of cryptocurrencies. Therefore, our paper underlines the support of investors on
Bitcoin to the detriment of the rest of cryptocurrencies. [-]
Rights
info:eu-repo/semantics/openAccess
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