Cboe Said to Be Planning Ether Futures Launch by Year-End

Cboe to Launch Ethereum Futures Before the End of 2018

Cboe to Launch Ethereum Futures Before the End of 2018

One of the sources revealed to Business Insider that the product might be ready by the end of this year. Chris Concannon, the president of CBOE Global Markets commented in his statement that, "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".

Bitcoin Cash (BCH), Litecoin (LTC), Cardano (ADA), Stellar Lumens, EOS, and other top digital currencies in the market have all seen a considerable increase in their value over the past twenty-four hours.

This news immediately sparked speculation about the effect this vehicle would have on the market, with many optimists noting that this futures contract should help to propel the price, development, and maturation of Ethereum, and subsequently, the growth of this industry. After that, the top-ranked cryptocurrency took a nose-dive, reaching below $6,000 the following February. With this, it consolidates investors to speculate on the BTC price except owning BTC.

It is nearly impossible to predict the evolution of Ether's price after a giant like Cboe will launch a related futures option.

According to Lee, ETH futures will provide a new stomping ground for bears, relieving the pressure on Bitcoin.

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BTC futures are not just for physical assets, but they can also be traded on financial assets. Since Bitcoin futures debuted in mid-December of previous year, prices tanked, with Bitcoin briefly touching $20,000 before tumbling to $7,200 as it stands today.

The price of ETH is most likely to be directly affected by a strengthened/weakened dollar or an increase/decrease in ICO token utility. CBOE has already requested permission from the commission and will introducing ETH futures trading once it has received a response.

Meanwhile, indications suggest that the introduction of ETH futures is close at hand.

The sources indicated that the only thing standing in the way of a rollout is the green light by the Commodities Futures Trading Commission (CFTC). If you follow Business Insider, the futures will be traded on Gemini.

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