After the successful launch of Bitcoin futures in 2017, CBOE Global Markets, the largest options and futures exchange in the U.S. is now attempting to bring Ethereum Futures before the end of 2018. At present, CBOE is waiting for additional clarity from CFTC on the matter. The successful launch of Ethereum futures will be a remarkable leap for the Ethereum community and as well as the cryptocurrency community. The launch of Ethereum futures could trigger an influx of institutional capital and push its prices higher.
CBOE is basing the upcoming ether futures on the underlying market of the cryptocurrency exchange Gemini. CBOE is actively working on to explore different ways for the $29 billion valued cryptocurrency and is also experimenting with related products such as bitcoin futures.
One of the main reason that is preventing the Chicago based exchange to launch Ethereum futures is the lack of clarity on the matter from the regulator. Compared to CFTC’s guidelines which adjudged bitcoin as a commodity, Ethereum still lacks the specification. Many experts say that since Ethereum is far more centralized and might be categorized as a security.
CBOE president Chris Concannon has also indicated about Ethereum furtures in the past and said that they will not stop at Bitcoin and will continue to add other cryptocurrency futures such as Ethereum and Bitcoin Cash. Bitcoin futures is trading since last year in CBOE and CME but this time the CME has no plans to offer new cryptocurrency related contracts any time soon.
