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Cryptocurrency

CBOE Global Markets, The World’s Largest Exchange Holding Company Launches Future For Ethereum

The World’s largest exchange holding company, CBOE announces to establish future for Ethereum (ETH) as per the valid report published on 30th August. CBOE Global Markets focuses to establish ETH futures by end of this year.

With this, CBOE is expected to support its ETH futures on Gemini’s underlying market. The operator is believed to have supported its Bitcoin (BTC) futures on the crypto exchange powered by New York-based Winklevoss twins.

In December last year, CBOE introduced its BTC future trading. Technically, Future is an agreement to organize buy and sell an asset on a specific future date at a specific price. With this, it consolidates investors to speculate on the BTC price except owning BTC. The platform, BTC Futures are not only for physical assets, however, the financial assets can also be traded on it.

The Commodities Futures Trading Commission (CFTC) is supposed to affirm the futures and options exchange. The Securities and Exchange Commission (SEC) in the US commented about the Ethereum in June this year that it is not a security. 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.”

According to the report published by the Chicago Mercantile Exchange (CME), the BTC futures volume has increased by almost 93 percent in the second quarter over the first quarter of 2018. Besides this, the report stated that there has been an incremental flow of open contracts on BTC futures and open interest about more than 2400 expected to be 58 percent increase in Q1.

The CME established BTC futures trading on 17th December after the launching of BTC futures by the CBOE. 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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Let us not forget that be it capital market or crypto market, the price of the assets are highly volatile as they are more inclined towards the macro fundamentals. So one has to be cautious to trade in a highly volatile environment!!

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Shalin Soni

Shalin joined CryptoNewsZ as Associate Finance (Cryptocurrency Research & Analysis) in 2018 and has 10 years of collective experience to work on financial modeling and financial planning & analysis activities (fp&a) domains. He has worked with various organizations in India and added values by leveraging his skills and expertise. He has strong domain expertise in research & analysis, valuation, and fp&a!! You can also mail him at [email protected] to discuss anything related to his reports.

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