Ethereum Futures Could Be Bigger Than Bakkt
With Bakkt hitting the headlines for their new Bitcoin Futures contracts announcement, LedgerX are now moving forward with their new Ethereum Futures project, one that could kickstart a new movement within Ethereum offerings, in the same way the first Bitcoin Futures contracts did at the end of 2017. Whilst we donât expect it to have a such a huge impact on the markets, we can see Ethereum Futures being very beneficial for the future of institutional interest in Ethereum.
According to Ethereum World News:
âLedgerX has an Ethereum options product which is ready to go live. The trading firm is currently awaiting approval from the Commodities Futures and Trading Commission (CFTC) before it can be made officially available. Apparently the approval could come after an October 5th meeting according to the report.â
LedgerX was founded by Paul Chou, a former Goldman Sachs trader in 2012. Since this time, LedgerX have dealt with hedge funds and have worked to inspire institutional investment in cryptocurrencies. The roll out of an Ethereum Futures contract is one way that this institutional investment can be encouraged further.
LedgerX arenât the only firm exploring this space
According to Ethereum World News, there are numerous Ethereum Futures products in the pipeline:
âMore Ethereum futures products are in the pipeline from CBOE however they have also stalled at the CFTC hurdle which is dragging its feet on decision making. Earlier this month the Chicago based exchange announced that Ethereum products were ready but they were still waiting for the CFTC to familiarize themselves with them.â
What impact will this have on Ethereum?
The launch of an Ethereum Futures product will pump the price of Ethereum. It will encourage excitement on a ground level and will force a new wave of investment into Ethereum by institutions who are able to spend a lot of money. Itâs great news for Ethereum as a cryptocurrency and even better news for those investors who bought in early. Whilst it is still early days for Ethereum Futures, products launched by LedgerX and others could in turn become bigger and far more attractive than the Bitcoin Futures contracts that are set to be launched by Bakkt.
Ethereum World News