CBOE Considering Ether and Bitcoin Cash Futures Amidst Increasing Competition - KDTV6 CYPTO NEWS

Sunday, December 3, 2017

CBOE Considering Ether and Bitcoin Cash Futures Amidst Increasing Competition

With CME set to launch Bitcoin futures on December 18, CBOE considers offering Ether and Bitcoin Cash futures.

With the U.S. Commodity Futures Trading Commission (CFTC) signing off on plans for Bitcoin futures, and the Chicago Mercantile Exchange (CME) set for a December 18 launch, the Chicago Board Options Exchange (CBOE) may be looking to up the ante by offering Ether and Bitcoin Cash futures.

Speaking to Business Insider, CBOE President Chris Concannon termed Bitcoin future contracts as a “meaningful development for the scorching-hot cryptocurrency”. He went on to appreciate CME Chairman Terry Duffy for pushing forward in this regard, and added that “this is the beginning of what will become a major asset class over the next 10 years”.

With Bitcoin price soaring to record highs amidst the anticipated inflow of institutional money, exchanges are also competing to offer the most attracted future contracts and derivatives in a bid to cash in on the growing crypto frenzy.

While CME will probably enter the market before CBOE, Concannon shared that they will be announcing their launch date soon, and are aiming to get their future contracts on the market before the end of the year.

Interestingly, the CBOE President also commented on the possibility of launching Ether and Bitcoin Cash futures “as the market continues to mature”, but there is no such indication from CME, which seems more focused on making sure their Bitcoin futures stay on track.

Commenting on their upcoming launch, CME head Terry Duffy said:

“Though we have worked through a lengthy, comprehensive process with the CFTC to get to this point, we recognize bitcoin is a new, uncharted market that will continue to evolve, requiring continued collaboration with the Commission and our clients going forward.”
Earlier we reported how the world’s second largest stock exchange, Nasdaq, is also planning to launch Bitcoin futures early next year on its futures exchange, NFX.

With Wall Street seemingly intent on riding the Bitcoin wave, it is all but evident that the cryptocurrency is poised to see new highs, with predictions already pegging it at $40,000 by the end of next year.

However, none of these developments prove that Bitcoin is not a bubble – the main question everyone seems to be asking is, how long will it continue to grow before it pops?


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