May 6, 2019 | AtoZ Markets - The U.S. Commodity Futures Trading Commission (CFTC) has no objection to approving an Ethereum futures contract, should the latter fulfilled all the requirements, as media reports revealed.
The CFTC made a similar move, approving the Bitcoin futures markets to launch earlier.
The commission had conducted market feedback in December, where it published a “Request for Input” (RFI), calling all blockchain experts to learn more about the second largest cryptocurrency. The RFI referred at the time to that the CFTC’s wished to approve Ethereum futures.
Analysts expect that if Ether Futures is approved, it will bring a new fresh wave of institutional money in the Ethereum ecosystem, taking from the Bitcoin case an example.
In retrospect, after Bitcoin futures was approved in 2017, that resulted in bitcoin hitting the $20,000 ceiling afterwards.
Ethereum futures may come next after Bitcoin futures
AtoZ Market reported late September last year that Bakkt cryptocurrency platform’s first offering would take the form of physical Bitcoin futures.
The exchange mentioned earlier, that its Bakkt will be a “regulated ecosystem” for institutional investors aiming to get exposure to cryptocurrency.
Nasdaq Incorporation, on the other hand, was said to have started plans to list Bitcoin futures, betting on “sustained interest” in spite of the sharp decline the market witnessed the last year, as AtoZ Markets reported at the time.
Adena Friedman, Nasdaq Chief Executive Officer, had stated in January 2018 that the exchange was studying how to distinguish its contracts from those offered by competitors.
Before Nasdaq, the New York Exchange made attempts to start a similar move, however, both of the two were careful in their studies and setting the strategy needed.
The second biggest stock exchange in the world, NASDAQ earlier confirmed its plans to start dealing with Bitcoin futures in the first half of 2019.
The date of launching depends on the approval from the United States Commodity Futures Trading Commission (CFTC), according to Joseph Christinat, vice president of Nasdaq’s media team at the time.