ETH Futures: Bad for Ethereum, Good for Bitcoin, Says Tom Lee

Share

This option follows the policies of the exchange which also did something similar with the Bitcoin ("BTC") futures market which was launched in December 2017, also based on the famous exchange owned by the Winklevoss twins.

According to Business Insider, Tom Lee, a managing partner at Fundstrat Global Advisors, believes that Ether futures trading will alter the price narrative of the market. Now, that same organization is telling market makers that it's preparing to launch Ether (ETH) futures.

"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".

The next step, according to the report, is to wait for approval from the CFTC. This writes the Enterprise Insider, citing sources. There have been a lot of positive developments in the crypto industry but none of them seem to have had any much of an impact on the prices as yet.

According to the report published by the Chicago Mercantile Exchange (CME), the BTC futures volume has increased by nearly 93 percent in the second quarter over the first quarter of 2018.

More news: Bears to acquire Raiders pass rusher Khalil Mack
More news: Liverpool to face Chelsea in League Cup third round
More news: Indian Rupee Crosses 71 Mark Against US Dollar For First Time

Ether Futures are expected to be launched by the end of 2018.

In recent times, it has emerged that between CFTC and the Securities and Exchange Commission (SEC), the former has a more lenient view of cryptocurrencies, whereas the latter has some reservations, about concepts. Both CBOE and CME Group have experienced both mixed success and a mixed reception in the case of Bitcoin Futures as the 2018 bear market across cryptocurrency had continued to fall.

It is nearly impossible to predict the evolution of Ether's price after a giant like Cboe will launch a related futures option.

The average trading volume in bitcoin futures rose by 93 percent in the second quarter. He mentioned in December 2017 that a number of cryptocurrency products which include futures for Ether and Bitcoin Cash could come as the market evolves and matures. CME Group, the world's largest futures contract exchange, was the second to launch bitcoin futures a year ago, just weeks after Cboe launched their own futures.

Share