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Investor to the end of the ever-tumultuous market, crypto investment services providers have continued to eye the expansion of their product line.
LedgerX Ethereum Options Are On Their Way
Frank Chaparro, who has gained recognition for his crypto-focused business insider pieces, recently revealed that LedgerX, a leading New York-based cryptocurrency infrastructure firm, intends to introduce an investment in the near future. Citing sources familiar with the firm's business, Chaparro explained that the startup, which is currently offering mostly Bitcoin-focused products and solutions, has plans to expand its options support to Ether, the second most valuable cryptocurrency by market capitalization.
While the product has been reportedly developed, Ledger is still waiting on a regulatory green light from the American Commodity Futures Trading Commission (CFTC). For insiders, it was revealed that the American regulatory body could review the Ether options application by as soon as October 5th, which is when the CFTC is scheduled to discuss this exact matter. CFTC representatives have commended the cryptosphere on multiple occasions, many are hopeful that they will receive the first time around.
Throughout the firm's multi-year history, which stretches back to 2013, LedgerX garnered support for its Bitcoin vehicles, like the BTC options contract that was launched in October of last year. Since the establishment of BTC options and swaps, New York's resident crypto company has purportedly brought on multi-billion dollar hedge funds, family offices and an array of other institutional investors.
I know that I am looking forward to the future, I am only natural for the American startup to feel inclined to seek other opportunities in similar markets, which is just a hop, skip, and jump away in this scenario.
In the case of Ether, an option to speculate on the future price of ETH, by giving an option to an interest contractor. As with any market, as LedgerX's planned investment opportunity will allow for pessimistic traders to short-sell Ether, which has become a common occurrence on BitMEX's recently-established, controversial Ethereum perpetual swaps contract.
In addition, this contract could be based on the most reliable cryptocurrency solutions, services, and most importantly, investment opportunities.
CBOE, the largest US-based options exchange by volume, revealed to Business Insider's Chaparro that had moved one step closer to launching an Ethereum-based futures contract. It is likely that the SEC is clarification that Ether can not be opened to the CBOE and Ledger to start working on the aforementioned products.
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