They are working with physical cash, nobody of those who are trading with bitcoin futures are using real bitcoins
that is why a lot of people are just buying those contracts instead of buying a bitcoin directly from an exchange, in fact, it is more noob-friendly for those who does not even know how to buy.
Hi, guys! Am I right that CBOE futures holder can not receive real bitcoins due to contract's conditions?
And the CME futures are going to work by the same way, they all are going to be working with cash.
it just works as a loan, just by the same way, only that you are purchasing futures
There is obviously an example of CBOE futures launch on 10 December, when Bitcoin made one of the largest growth in % in 5 minutes time, I think the same will happen upon CME launch. I have a quick video proving my point, would be glad to hear your feedback: