- Ethereum Futures to go live soon
- No firm has applied to list Ether features yet
- Crypto may be seen as commodities soon
Ethereum News Today – according to reports the CFTC (Commodity Futures Trading Commission) Chairman, Heath Tarbert has reaffirmed his proposal that there could be an Ethereum futures launching soon. The CFTC chief remarked during an interview. Tarbert addressed, the current position of the crypto space and the Blockchain industry. He also remarked that he will be glad if the U.S can be a major leader in the nascent sector as it continues to gain more utility and relevance.
Tarbert: Bitcoin and Ethereum are under the Jurisdiction of the CFTC
During Tarbert’s interview, the CFTC chief pointed out that the number one and two largest assets by market cap (Bitcoin and Ethereum) fall under the jurisdiction of the CFTC. This according to Tarbert is because both cryptos have been considered as commodities. He also added the regulatory agency has been paying close attention to the crypto space, especially the futures market. The CFTC chief said his agency is doing many things in the digital currency space at a time when exchanges have listed physically-settled and cash-settled BTC futures products. Tarbert added:
“I guess that we will see Ether Futures at some point. And as things begin to shift into the commodity space, we are even going to see more.”
Note that this is not the first time that Tarbert has claimed that he believes there will be Ether futures contracts launched in the future. During a fireside chat in the first day of DC’s Fintech Week, Tarbert said he believes that ETH futures will likely be launched within the next six months or one year.
Tarbert: No Company Has Applied to List Ether Futures
Despite being bullish regarding Ether futures contracts, many companies have failed to apply to list the product. During Tarbert’s fireside chat, the CFTC chief noted that to date no firm have applied to list the ether futures contracts product even though the CFTC has stated severally that it is open to approving such a product in the future. He clarified that the approval would of such a product would depend on the application.
Tarbert has been quoted saying that other cryptocurrencies may become commodities in the future. While saying that new crypto derivatives will also launch in the future. Tarbert added that a crypto asset can evolve from been regarded as a commodity to a security. Although when asked to clarify this he said there may be no precedent to this situation happening.