Published: Mon, September 03, 2018
Markets | By Noel Gibbs

CBOE might launch Ethereum futures this year, but ETH/USD bears unimpressed


It appears that CBOE Global Markets, the operator of the Chicago Stock Exchange, intends to bring the futures contracts for Ethereums Ether by the end of the year. "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", said Chris Concannon, CBOE Global Markets President.

With this, CBOE is expected to support its ETH futures on Gemini's underlying market. The exchange holding company previously based its Bitcoin futures on the Winklevoss's New York-based cryptocurrency exchange as well.

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The CBOE exchange introduced BTC futures trading last December, expanding the types of investment vehicles available to cryptocurrency investors. Technically, Future is an agreement to organize buy and sell an asset on a specific future date at a specific price.

Lee is basing his analysis on the way cryptocurrency futures trading works - giving traders the ability to bet on the price movement of a "coin" without having to own it. Also, the market accounts for a small portion of the total BTC trading arena, so it is unlikely that BTC futures trading had any direct impact on the Bitcoin price trajectory. Could ETH futures arrive just one year later?

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In the past, the CBOE has also written to the SEC, in a bid to permit exchanges to trade bitcoin Exchange Traded Funds (ETF). 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.

At the moment it is still up to the Commodities Futures and Trade Commission to decide whether to accept or reject the Ether Futures.

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In recent times, it has emerged that between CFTC and the Securities and Exchange Commission (SEC), the former has a more lenient view of cryptocurrencies, whereas the latter has some reservations, about concepts. After making a name in the crypto community for launching bitcoin futures, Cboe is now reportedly preparing to launch ETH futures.

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