Possible Outcomes as CBOE plans to launch Ethereum futures by year end

Possible Outcomes as CBOE plans to launch Ethereum futures by year end

Lee's declaration as the Cboe Global Markets gears up to launch Ethereum futures contracts in addition to its Bitcoin futures trading, which debuted in December 2017.

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. CBOE Global Markets focuses to establish ETH futures by end of this year.

The ETH market has got a fundamental boost with the talks of ETH futures being started in the CBOE by the end of the year but the impact on the prices has been pretty much muted so far. The exchange would use price data from the Winklevoss Twins Gemini Exchange, which also provides the CBOE with the price data for the current Bitcoin price.

CBOE, which launched pioneering Bitcoin futures in December past year, is now waiting while the Commodity Futures Trading Commission (CFTC) to "get comfortable with the product before its official launch", the publication reported citing "people familiar with the matter". With this, it consolidates investors to speculate on the BTC price except owning BTC.

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The Commodities Futures Trading Commission (CFTC) is supposed to affirm the futures and options exchange. Back in June, the SEC cleared the air on the matter of whether Ethereum was a security. The Securities and Exchange Commission (SEC) in the USA commented about the Ethereum in June this year that it is not a security. The Chicago Mercantile Exchange (CME) released a report last month in which it showed that the average daily volume of BTC futures had climbed 93% in the second quarter compared to the first quarter.

The CME also said that the rate of open interest or the number of open contracts on BTC futures has gone past 2,4000 which means a 58% increase in Q1.

However, in July, the head of the competing exchange CME Group Terry Duffy, made it clear that he did not want to launch futures on Ethereum and other altcoins due to their volatility, so far.

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