Business Insider on August 30 reported that CBOE (Chicago Board Options Exchange) global markets and one of the world’s largest exchange holding companies, is planning to launch futures of ethereum.
Sources which are familiar with the situation told Business Insider that CBOE is looking to launch ETH futures by the end of this year. The reports for the launch of the futures of ETH will be based on Gemini’s market; the operator also launched futures of Bitcoin (BTC) based on the New-York based exchanges run by Winklevoss twins.
Last year in December, CBOE launched BTC futures. It represents an agreement to buy and sell an asset at a specific price in the near future. BTC futures are not just physical assets, they can be traded on financial assets as well.
According to the U.S. financial regulator, the SEC, Ethereum is not a security. The president of CBOE Global markets then said, “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.”
Last month, the CME (Chicago Mercantile Exchange) published a report on the BTC futures average daily volumes, mentioning that it increased by 93 percent over the first quarter of 2018. The CME also mentioned the number of open contracts and the open interest has increased to 2,400 which is approximately 58 percent increase in Q1.
The CME launched BTC futures trading on December 17, following the launch of BTC futures by the CBOE. Later in July, the CME’s CEO Terry Duffy said that the organization won’t present futures on cryptocurrencies other than Bitcoin (BTC) sooner rather than later,in the near future, citing to their instability as the real reason.