Economy

CBOE to Launch Ethereum Futures by the End of 2018

CBOE to Launch Ethereum Futures by the End of 2018”

A remarkable leap forward for the Ethereum community, and the overall cryptocurrency, is on the cards as Cboe, the largest options and futures exchange in the USA, told market makers that the debut of Ether futures is getting close. If this is true, it could mean a lot for Ethereum. "This announcement clears a key stumbling block for Ether futures, the case for which we've been considering since we launched the first Bitcoin futures in December 2017", said Chris Concannon, CBOE Global Markets President.

The CBOE is set to base its ether futures contracts on Gemini's underlying market. With this, it consolidates investors to speculate on the BTC price except owning BTC.

The introduction of Bitcoin Futures in December 2017 apparently had a major influence on the course of the Bitcoin price.

Experts in the field have noted that the launch of Ether futures would expand the trading opportunities and could pave the way for eventual regulatory approval for ETFs. The platform, BTC Futures are not only for physical assets, however, the financial assets can also be traded on it.

At the moment it is still up to the Commodities Futures and Trade Commission to decide whether to accept or reject the Ether Futures. It has been exploring the $29 billion market value cryptocurrency in many different ways, as well as experimenting with related products such as bitcoin futures. Bitcoin is the only other cryptocurrency that the SEC has explicitly said is not a security.

However, another point worth noting is that Bitcoin futures offered by the Cboe are cash-settled, meaning that there is no transfer of the underlying asset.

His claims seem to be corroborated by the historical price action of Bitcoin following the initial CBOE and CME futures release.

The news comes amid a continued downturn in ETH's fortunes, with Ethereum price 00 battling lows not seen for nearly a year.

Similar to the impact of the initial Bitcoin futures market, which initially helped propel Bitcoin to above $19,000 before aiding in its rapid drop, some analysts view Ethereum futures as a big plus for second largest cryptocurrency.



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