CBOE will launch Ethereum futures before the end of the year

[plus1coin]

CBOE Global Markets, a consortium that owns the Chicago Board Options Exchange (CBOE) and one of the world's largest exchange houses, aims to launch Ethereum futures (ETH) to the market, according to a Business Insider report.

For those unfamiliar with the matter, futures are basically an agreement to buy and sell an asset on a specific date in the future at a specific price, which allows investors to speculate with the price of said asset without having to own it.

Several anonymous sources with knowledge of the situation commented in the report that CBOE Global Markets would have everything ready for the launch of the Ethereum futures at the end of this year, and that they would only be waiting for the approval of the Commodities Futures Trading Commission (CFTC) for its official launch.

Also, these futures would be based on Gemini's underlying market. It is worth noting that the CBOE would have already launched Bitcoin futures in December of last year, using the same platform as the Winklevoss twins.

It is important to remember that another US financial regulator of great importance, the Securities and Exchange Commission (SEC) commented in June that Ethereum would not be a value. So Chris Concannon, president of CBOE Global Markets, said the announcement "clears the way for Ether's futures, something we've been considering since our Bitcoin futures launch in December 2017."

Also, last month, the Chicago Mercantile Exchange (CME) reported a report on the average daily volume of BTC futures, commenting that they would have risen 93% in the second quarter compared to the first quarter of 2018.

CME had launched the BTC futures on December 17, followed by the release of futures by the CBOE. Then, in July, Terry Duffy; CEO of CME, commented that the company would not consider futures of other cryptocurrencies besides Bitcoin in the near future due to its volatility.

[DiZEL]

We all remember how the drop in the cost of bitcoin last winter began with the beginning of trading by bitcoin futures. Will the futures trade on ethereum stimulate a trend change from bearish to bullish or will it kill crypto-currencies? We can only wait and believe in the best.