Cboe Prepares to Release a New Crypto Futures Option
Chicago-based company Cboe Global Markets is getting closer to launching Ether (ETH) futures, as reported on August 30.
Cboe Global Markets is approaching with fast steps to the launch of Ether futures. Frank Chaparro reported for Business Insider that CBOE “is telling market makers that it is close to rolling out futures for the ether, the second-largest cryptocurrency by market capitalization.” Representatives informed about this subject told the news portal that the new future service may be live in Q4 2018.
Note that Cboe’s Futures Exchange (CFE) listed Bitcoin (BTC) futures on 10 December 2017.
CBOE was targeting the new crypto futures option since 2017
Since December, Chris Concannon, Cboe’s President and Chief Operating Officer, said he was looking to add new futures options other than BTC. Among his targets were Ether and Bitcoin Cash.
Back on 14 June 2018, William Hinman, the director of the U.S. Securities and Exchange Commission’s corporate finance division, claimed during a conference held by Yahoo Finance in San Francisco that:
“Putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions… And, as with Bitcoin, applying the disclosure regime of the federal securities laws to current transactions in Ether would seem to add little value.”
As a response to the news circulating that day, CBOE President told Bloomberg that:
“We are pleased with the SEC’s decision to provide clarity with respect to current Ether transactions… This announcement 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.”
It is almost impossible to predict the evolution of Ether’s price after a giant like Cboe will launch a related futures option. According to CoinMarketCap, ETH is currently traded at $ 278.89 and has a market cap of $ 28,353,824,239.