The CBOE (Chicago Board Options Exchange) might soon enable the trading of Ethereum (ETH) futures on its platform. This was disclosed by Business Insider, which stated that CBOE Global Markets would be “ready” to add Ethereum (ETH) futures trading to its platform. According to the report, the launch of the future is intended for the end of this year.
The futures for Ethereum (ETH) is based on the underlying market of Gemini. This option adheres to the policies of the platform which also did something similar with the futures for Bitcoin (BTC) market that was launched in December last year, and it was also based on the underlying market of Gemini – a famous digital currency trading platform owned by the Winklevoss twins.
The Launch of Ethereum (ETH) Futures Trading Will Open More Doors for the Coin
The launch of an Ethereum (ETH) futures market can be positive for the value of the digital currency as it will result in an upsurge in the trading volume utilizing a new financial instrument. Furthermore, the support offered by the Chicago Board Options Exchange paves the way for large investors to take a chance with this popular digital currency.
After Bitcoin BTC futures market was launched, the digital currency started a bearish trend from which it hasn’t been able to recover. Nevertheless, the increased exposure to the traditional market is a great opportunity for any digital currency.
CBOE Is Waiting for Approval from the CFTC
According to the Business Insider, the CBOE is waiting for approval from the CFTC (Commodities Futures Trading Commission) in order to launch this project successfully. All the necessary preparation are already in place, and the exchange hopes to complete this project by the end of this year.
Ethereum (ETH) Price Today – ETH / USD
At the time of writing, Ethereum (ETH) is trading at $298 after an increase of about four percent over the past twenty-four hours. The current market cap of Ethereum (ETH) is $30.25 billion and its trading volume over the past twenty-four hours is $1.56 billion.