The Chicago options and futures exchange (Cboe) intends to launch ethereum futures by the end of the year. This will happen immediately after obtaining permission from the regulators.
The exchange will focus on the market indicators of Gemini platform when servicing deals. The Chicago options exchange used indicators of the same platform when launching bitcoin futures in December of last year. Now the permission for this activity is expected from the Commodity Futures Trading Commission (CFTC).
In mid-June, Cboe president Chris Concannon said that US regulators were giving green light to the launch of ethereum futures. He referred to the words of the representative of the US Securities and Exchange Commission (SEC) that bitcoin (Bitcoin) and ethereum (ETH/USD) are not securities. A month later, the head of the Chicago Mercantile Exchange (CME) Terry Duffy said he would not launch ethereum futures due to volatility and high risks.
In December 2017, the media reported that Cboe and CME Group are going to issue ethereum and litecoin (LTC/USD) futures. In mid-May, the world's first ethereum futures were launched by British Crypto Facilities.
WHY IS IT IMPORTANT?
- If the offer is accepted, traders will be able to use both long and short positions in terms of currency.
- Experts believe that new investment opportunities will put an end to the bearish crypto market and deploy it on a bullish trend.