CryptoFacilities says digital assets are coming of age, with Bitcoin going through the process in the last one year, and Ethereum will follow this year. Chicago-based Akuna Capital will provide liquidity for the Ethereum futures
UK-based CryptoFacilities, the company behind bitcoin futures launched in 2015 and XRP futures in 2016, is launching Ethereum futures. The Ethereum futures will start trading at 4 pm UK time today.
Founder and CEO of CryptoFacilities Timo say digital assets are now coming of age with Bitcoin having gone through that process as a financial asset in the past year, and “Ethereum is following a similar path this year.”
Chicago-based Akuna Capital will provide liquidity for the new futures product. Head of digital assets at Akuna Capital Toby Allen said,
“The addition of a futures product enables crypto traders to take both long and short positions in ETH and is another giant leap in the development of the crypto asset class.”
CryptoFacilities, which is backed by the likes of Digital Currency Group and String Ventures, also supported CME in their launching of Bitcoin futures last year.
The cryptocurrency is facing uncertainty over whether it is a security or not. But that will not deter the launching and success of the futures.
“Whether Ethereum is a security is a matter for different jurisdictions to decide. Crypto Facilities is a derivatives platform and complies with the applicable regulation.”
Consensus and TrueDigital launched a benchmark price for ether cryptocurrency in March last year.