CBOE To Launch Ethereum Futures Later This Yearbr>
CBOE Global Markets, the exchange group behind the first market for bitcoin futures, has told market makers that the debut of ethereum futures is getting close.
Citing people familiar with the situation, Business Insider reported that CBOE is planning to launch futures for ethereum by the end of the year. CBOE is reportedly basing its upcoming ether futures on the underlying market of crypto exchange Gemini, founded and run by Tyler and Cameron Winklevoss.
“The futures and options exchange is waiting on the Commodities Futures Trading Commission (CFTC) to get comfortable with the product before its official launch,” a person familiar with the matter told Business Insider.
In June of this year, William Hinman, US Securities and Exchange Commission (SEC) director of corporate finance, said that the agency doesn’t consider ethereum’s native token a security. Hinman explained that since there is no central figure or group responsible for ethereum, “the assets may not represent an investment contract.”
Following SEC’s announcement, CBOE Global Markets president Chris Concannon said that the agency’s statement “clears a key stumbling block for ether futures, the case for which we’ve been considering since we launched the first bitcoin futures in December 2017.”
Meanwhile, rival CME Group’s CEO Terry Duffy has said that the company will not introduce futures on cryptocurrencies other than bitcoin in the near future, citing their volatility as the major reason.