The Chicago Board Options Exchange (CBOE) may be close to allowing futures trading on Ethereum (ETH) on its platform. This was revealed in a report by the specialized Business Insider portal, in which they mention that CBOE Global Markets, would be "ready" to make this commercial move early.
According to undisclosed sources, the release of futures is scheduled for the end of 2018. Futures are based on the underlying market of Gemini. This option follows exchange policies that have also done something similar with the Bitcoin futures market ("BTC") which was launched in December 2017, also based on the famous stock exchange owned by the Winklevoss twins.
The launch of a future market for Ethereum can be positive for token valuation as it allows an increase in the volume of trade using a new financial instrument. Moreover, the support provided by the CBOE opens the doors to big investors to speculate with this famous cryptocurrency.
After the launch of Bitcoin futures, this cryptocurrency started a bearish streak from which it was not possible to recover, however, the greater exposure to traditional markets is a favorable opportunity for any cryptocurrency.
Ethereum is NOT a security
According to the Business Insider, a person with access to internal information said that the CBOE would await the approval of the Commodities Futures Trading Commission (CFTC) to launch this project successfully. The necessary preparations are already in place.
It is also important to emphasize the legal security of futures trading on Ethereum. On June 14, a president of the Securities and Exchange Commission (SEC) concluded that Ethereum was not a security:
"Applying the regime of disclosure of federal securities on the securities offered and the resale of Bitcoin would seem to add little value  And by putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the current state of Ether, the Ethereum network and its decentralized structure, the current offers and sales of Ether are not transactions of And, as in the case of Bitcoin, the application of the regime of disclosure of federal securities laws to current transactions in Ether would seem to add little value. "
This decision was rewarding for traders and hodlers in general as the legal consequences of being classified as security
In this regard, CBOE president Global Markets Chris Concannon has its satisfaction:
"This announcement cancels a key obstacle for Ether's futures, the case we've been considering since launching the first Bitcoin futures in December 2017."
Not c & # 39, is still a precise date for the launch, but Ethereum fans have responded positively to the news despite not having the same hyper-enthusiasm immediately when it is launched the announcement of futures on Bitcoin