The next big short: Hedge funds prepare to trade against bitcoin

New York

A BITCOIN big short is building.

The planned introduction of bitcoin futures contracts at CME Group Inc, Cboe Global Markets Inc and Nasdaq Inc will make it much easier to bet on a decline. Hedge funds, which have largely stayed on the sidelines, are waiting for the Chicago Mercantile Exchange's futures market to open for a fresh opportunity to bet against the cryptocurrency, according to more than a half dozen people trading the assets.