[BREAKING]: Cboe Tells Market Makers Ether Futures Possibly For December 2018 is Coming Soon
Breaking: Cboe Tells Market Makers That Ether Futures Are Coming Soon – Possibly in December 2018
In December 2017, Cboe launched regulated bitcoin futures contract trading for the first time in history. Now, that same organization is telling market makers that it’s preparing to launch Ether (ETH) futures.
“Cboe is telling market makers that it’s close to launching Ether futures,” explains Business Insider in a report from earlier today. “And it could mark a big step in the crypto’s evolution.”
Cboe is one of the world’s largest futures and exchange trading marketplaces. After making a name in the crypto community for launching bitcoin futures, Cboe is now reportedly preparing to launch ETH futures.
Ethereum and its Ether digital token are the second largest by market cap, second only to bitcoin.
The next step, according to the report, is to wait for approval from the CFTC.
“The exchange is waiting on additional clarity from the CFTC,” claims Business Insider, citing “a person with knowledge of the situation.”
The launch of Ether futures would obviously be good news for the crypto industry. It signals a maturing market. It could also pave the way for a bitcoin ETF or even an ETH ETF in the future.
ETH Futures Could Launch By Late 2018
Bitcoin futures arrived in December 2017. Could ETH futures arrive just one year later?
According to the new report – it’s certainly possible.
“Cboe Global Markets, the exchange behind the first market for bitcoin futures, is telling market makers it is close to rolling out futures for ether, the second-largest cryptocurrency by market capitalization, people familiar with the situation told Business Insider. The product may launch by the end of 2018, one of the people said.”
Cboe’s ETH futures will reportedly be based on Gemini’s underlying ETH market. That’s identical to the way Cboe handles bitcoin futures. Gemini is the New York-based crypto exchange run by the Winklevoss twins.
Back in June, the price of ETH spiked when an SEC representative claimed ETH was not a security, and that the agency wasn’t planning to regulate it as a security. This statement could bode well for Cboe as it seeks approval for the world’s first ETH futures contracts.
Could CME Group Launch Futures at the Same Time?
Today, two major marketplaces feature bitcoin futures trading, including Cboe and CME Group. CME Group, the world’s largest futures contract exchange, was the second to launch bitcoin futures last year, just weeks after Cboe launched their own futures.
CME Group, however, doesn’t appear to be on track to launch the world’s first ETH futures. They seem to be prepared to let Cboe have the first ETH futures contracts as well.
According to the Business Insider report, CME Group’s CEO Terry Duff “has said Ether futures won’t go live on his venue any time soon.”
Ultimately, the launch of more regulated trading markets is always good news for the crypto industry.
The price of ETH hasn’t changed much after this news broke. It’s holding steady below $290 USD. In December 2017, we saw a surge in bitcoin prices as the world’s first bitcoin futures were approved. Could we see the same with ETH when ETH futures contract markets launch in December 2018? Also makes sure you check out BitMex and Deribit as well as a comparison of both!