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Ethereum, traded through digital token ether, and litecoin may be about to join bitcoins in the futures market after US retail brokerage TD Ameritrade announced he is investing in new cryptocurrency exchange, ErisX. & nbsp;
TD Ameritrade's 11 million customers are already able to trade bitcoin futures via the Chicago Board Options Exchange (CBOE) exchange after both the CME Group and CBOE introduced them in December of last year.
The development could be a good sign for the etherum price, which has struggled throughout 2017, dropping more than 80% from its peak in January.
ErisX plans to launch spot trading in the first half of 2019, with physically stable futures to be launched by next year.
A visual representation of digital cryptocurrency, ethereum. (Photo by S3studio / Getty Images)
"They could open additional cryptocurrency products in the future and spots that our customers could potentially trade," he told J.B. Mackenzie, TD Ameritrade's managing director of futures and foreign exchange, Reuters.
"We continue to see our retail customers looking for access to trade in digital currency products," Mackenzie said, speaking this time CNBC. "We wanted to find a platform that was completely regulated and something that had that capital market."
While many are excited to see how the future ethereum and litecoin affect the market, the introduction of futures trading has not been enough to stem the bitcoin losses this year. Bitcoin is down 60% from the highs recorded at the end of 2017, as investors lose patience pending institutional revenue on the long-awaited cash.
When the CBOE started bitcoin futures trading in December, it attracted so much trading volume that the CBOE website temporarily declined – it seems unlikely that ethereum and litecoin futures would generate the same level of interest.
Thomas Chippas, former head of global quantitative execution at Citi, joined the ErisX CEO, part of the traditional Eris Exchange futures market, and is the last traditional banking executive to move on to the flourishing sector of cryptocurrencies.
The etherum price, traded through digital token ether, is down for the whole of 2018.CoinDesk
Meanwhile, the ethereum sell-off has emerged so far this year may not be due to investors withdrawing from small initial coin offerings (ICO), as previously thought.
A report this week suggests that, among the top 200 international organizations of industry products, most of the projects have already converted into legal currency what they had put into crypts.
in August Bloomberg reported that ICOs using blockchain ethereum may be the cause of their decline as some of these projects cash in to cover expenses and for fear that this cryptocurrency bear market will drag on.
According to Bitmex, the exchange that wrote this latest report, the ethereum-hosted projects collectively reviewed still contain 3.8 million ethers, about a quarter of the total cryptography they originally generated.
The ICO projects of Ethereum hold, even at the current price of $ 230, unrealized gains rather than losses.Bitmex
Bitmex has discovered that the deficit between the total harvested ether and the total amount of ethere collected in Fiat is only $ 11 million. Estimated unearned etherum earnings, ie encryption that has not been cashed out, amount to $ 93 million.
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Ethereum, traded through digital token ether, and litecoin may be about to join bitcoins in the futures market after US retail intermediary TD Ameritrade has announced it is investing in new cryptocurrency exchange, ErisX.
TD Ameritrade's 11 million customers are already able to trade bitcoin futures compared to the Chicago Stock Options Exchange (CBOE) Futures Exchange after both the CME Group and CBOE introduced them in December of last year.
The development could be a good sign for the etherum price, which has struggled throughout 2017, dropping more than 80% from its peak in January.
ErisX plans to launch spot trading in the first half of 2019, with physically stable futures to be launched by next year.
A visual representation of digital cryptocurrency, ethereum. (Photo by S3studio / Getty Images)
"It could open additional cryptocurrency products in the future and a spot that our customers could potentially trade," he told Reuters J.B. Mackenzie, CEO of TD Ameritrade on futures and foreign exchange.
"We continue to see our retail customers looking for access to trade in digital currency products," said Mackenzie, speaking this time to CNBC. "We wanted to find a platform that was completely regulated and something that has that capital market".
While many are excited to see how the future ethereum and litecoin affect the market, the introduction of futures trading has not been enough to stem the bitcoin losses this year. Bitcoin is down 60% from the highs recorded at the end of 2017, as investors lose patience pending institutional revenue on the long-awaited cash.
When the CBOE started bitcoin futures trading in December, it attracted so much trading volume that the CBOE website temporarily declined – it seems unlikely that ethereum and litecoin futures would generate the same level of interest.
Thomas Chippas, former head of global quantitative execution at Citi, joined ErisX's managing director, part of the traditional Eris Exchange futures market, and is the last traditional banking executive to move to flourishing sector of cryptocurrencies.
The etherum price, traded through digital token ether, is down for the whole of 2018.CoinDesk
Meanwhile, the ethereum sell-off has emerged so far this year may not be due to investors withdrawing from small initial coin offerings (ICO), as previously thought.
A report this week suggests that, among the top 200 international organizations of industry products, most projects have already converted what they had put into crypts in fiat currency.
Bloomberg reported in August that ICOs using blockchain ethereum could be the cause of its decline as some of these projects cash in to cover expenses and for fear that this cryptocurrency bear market will drag on.
According to Bitmex, the exchange that wrote this latest report, the ethereum-hosted projects collectively reviewed still contain 3.8 million ethers, about a quarter of the total cryptography they originally generated.
The ICO projects of Ethereum hold, even at the current price of $ 230, unrealized gains rather than losses.Bitmex
Bitmex has discovered that the deficit between the total harvested ether and the total amount of ethere collected in Fiat is only $ 11 million. Estimated unearned etherum earnings, ie encryption that has not been cashed out, amount to $ 93 million.
