CBOE Allegedly Waiting on CFTC Approval to Launch Ethereum (ETH) Futures

CBOE Allegedly Waiting on CFTC Approval to Launch Ethereum (ETH) Futures

CBOE Allegedly Waiting on CFTC Approval to Launch Ethereum (ETH) Futures

There is expectation in the market that CBOE may launch Ethereum (ETH) futures by the end of 2018 if United States regulators approve its product.

According to Lee, futures contracts are in fact to blame for the crypto market's "gut-wrenching" drop, as his data revealed bitcoin's price dropped around CBOE futures expirations. "And it could mark a big step in the crypto's evolution". The traders are not sure whether to classify this as a positive or a negative development considering the fact that it was the introduction of the BTC futures that marked the beginning of the fall in the BTC prices.

The person with knowledge of the matter also mentioned that they are awaiting the CFTC to provide the final approval of the product before it officially launches. Now, the company is looking to launch futures for Ethereum (ETH), according to Business Insider.

Tom Lee, the co-founder of Fundstrat Global Advisors and a well-known bitcoin bull, has recently revealed he believes ether futures may be bad for the cryptocurrency, and good for bitcoin. It signals a maturing market. ETH has already underperformed Bitcoin. 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. The end of 2018 is the estimated period of the launch.

ETH futures is expected to be launched by CBOE by the end of 2018.

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It is nearly impossible to predict the evolution of Ether's price after a giant like Cboe will launch a related futures option. If you remember, this is the operator that based its Bitcoin futures on the exchange which is run by the Winklevoss brothers.

CBOE Global Markets, the exchange group behind the first market for bitcoin futures, has told market makers that the debut of ethereum futures is getting close.

The exchange has been considering Ethereum futures since December past year but due to regulatory issues, the plan was kept on hold.

The post CBOE May Support Ethereum Futures appeared first on UNHASHED. CME Group, the world's largest futures contract exchange, was the second to launch bitcoin futures previous year, just weeks after Cboe launched their own futures.

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