CBOE to Launch Ethereum Futures by the End of 2018

Roman Schwartz
September 3, 2018

The Chicago Board of change (CBOE) plans to launch futures buying and selling on the cryptocurrency Ethereum till the top of 2018.

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. It is reported by Business Insider with a reference to its own sources. If you remember, this is the operator that based its Bitcoin futures on the exchange which is run by the Winklevoss brothers.

Like the CBOE, the CME began offering BTC futures trading in December of previous year.

As such, the Fundstrat Bitcoin bull then noted that the same effect, albeit likely not as drastic, could occur this time around as well, with the planned December 2018 introduction of the CBOE-backed Ether futures contract potentially lining up with a substantial decline in the price of ETH. Technically, Future is an agreement to organize buy and sell an asset on a specific future date at a specific price. A fall below this region would mean that the prices and the market would be back in the long held range and this would only mean more consolidation and more ranging in the days and weeks to come, something that most of the traders would not want, after all that they have been through over the past couple of months.

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The futures and options exchange is waiting on the Commodities Futures Trading Commission to get comfortable with the product before its official launch, a person with knowledge of the matter said.

In June of this year, William Hinman, US Securities and Exchange Commission (SEC) director of corporate finance, said that the agency doesn't consider ethereum's native token a security.

According to the report published by the Chicago Mercantile Exchange (CME), the BTC futures volume has increased by nearly 93 percent in the second quarter over the first quarter of 2018. In July this year, Terry Duffy, CEO of CME commented that the company will not launch futures on cryptocurrencies besides Bitcoin due to the volatile nature in place.

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