Cboe had made a name for itself in the crypto community by launching the first regulated bitcoin futures. Now the firm has reportedly revealed that plans to launch Ether (ETH) futures are in place.
According to the reports that Cboe told market makers that it is working on launching ether futures while noting that the success of this plan will speed-up crypto’s evolution.
Cboe is one of the biggest names when it comes to futures and exchanges and ether is the second largest cryptocurrency in terms of market cap.
The report released by business insider suggested that the next stage in the plan for the launch is the approval stage. The futures is awaiting approval from U.S. Commodity Futures Trading Commission (CTFC). The approval and launch of the proposed ether future will usher in Bitcoin and Ether ETFs in the future. This development is an indication that the crypto market is maturing and evolving.
The report states that the launch of the futures might be possible before the end of 2018. The proposed ether futures will be based on ether market that Gemini runs. Gemini’s Ether market uses the same framework as Cboe’s bitcoin futures.
U.S. Security and Exchange Commission (SEC) had stated in June that it was not planning on regulating ether as a security. This statement will indeed favor Cboe’s planned launch of ether futures.
Will CME Group Join The Race?
The other major marketplace that features bitcoin futures, CME Group has not indicated that it will be joining the ether futures launch race. CME Group is currently the world’s largest futures contract exchange and was the second marketplace after Cboe to launch the bitcoin futures.
The report released by Business Insider revealed that CME Group’s CEO Terry Duff has no plans to launch ether futures any time soon. Instead, it seems that the group will be waiting by the sidelines (like they did last year) to watch Cboe’s approach. Then maybe after Cboe’s ether futures gets approved, they might follow suit.
Cboe ’s bitcoin futures launched last year was eagerly anticipated by the crypto community that its site had crashed immediately it was launched. The same level of anticipation is brewing up in the crypto community after the proposed launch was announced.
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