Ethereum Futures Might See Green Light from CFTC: Report

The Commodity Futures Trading Commission (CFTC) is considering to approve futures instrument based on Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term if it complies with all the necessary requirements, Coindesk reported on Monday.

“I think we can get comfortable with an Ether derivative being under our jurisdiction,” an unnamed CFTC official confirmed the publication. “We don’t do bold pronouncements, what we do is we look at applications before us.”

“A derivatives exchange comes to us and says ‘we want to launch this particular product.’ … If they came to us with a particular derivative that met our requirements, I think that there’s a good chance that it would be [allowed to be] self-certified by us.”

The regulator, however, will only respond to the individual applications rather than publicizing an opinion on the investment product.

Pumping the market with more crypto products

The CFTC has already approved and oversees Bitcoin futures products - one issued by the Chicago Board Options Exchange and the other one by the CME Group. Both exchanges launched the cash-settled instrument in December 2017 which drove the digital coin to touch its peak.

Ethereum is the second largest digital coin in the market in terms of total market capitalization. Though the altcoin lost its position several times to XRP, it has now tightly secured its place with a $17.4 billion market cap, at least for the time being.

The introduction of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term futures has turned out to be a massive success. The investment product has brought in many institutional investors to bet in digital assets. Though the crypto spot market slumped since January 2018, the trend is different for futures.

Last month, the CME Group reported that it has recorded the highest BTC futures trading volume on April 4 with a sudden upward trend in the spot market.

Meanwhile, the Securities and Exchange Commission (SEC) is still reluctant to approve a Bitcoin-backed exchange-traded fund (ETF). And if the CFTC approves Ethereum-based futures, it will definitely get an upper edge to seize control of the crypto market in the US.