CME Group considers ETH futures

Posted 17 May, 2018

The derivatives trading platform – CME Group – is considering the possible launch of futures of Ethereum, the second major digital coin in the market, as commented the company CEO at Consensus 2018 in New York.

According to the news reports, the potential business area will be checked to determine the size of potential demand and decide whether it will be reasonable or not to launch ETH futures. However, the company is said not to have any plans for contracts that could monitor ETH price so far.

Earlier, CME Group and UK's Crypto Facilities reported announced new products: reference ETH rate and ETH-USD index.

As he commented, they will keep checking the demand for futures further, with no plans for a launch. 

At the same time, the company CEO agrees that some investors are interested in buying futures based on crypto payments rather than fiats. Specifically, for now, CME, as well as CBOE platform, is dealing with fiat payments.

Besides, he disagrees that the futures contracts on the CME launched last December summoned a bearish trend for bitcoin. Nevertheless, with the level touched by bitcoin on the day of bitcoin futures launch on the CME, the market experts mostly believe that the observed dynamics was explained just by a large number of short positions.

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17 May, 2018 16:34

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