Exclusive: CBOE and CME Group Rumoured to Be Mulling Ethereum and Litecoin Futures

Both Chicago-based major derivatives exchanges (CBOE and the CME Group) are rumored to be preparing to launch Ethereum and Litecoin futures. The plan could have been developed well in advance, sources say. With the launch 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 being a test bed for the deployment of more cryptocurrency derivatives, the expansion of the asset class to the futures markets may be only just beginning.

According to the sources that shared this information with Finance Magnates, the launch of both contracts is imminent. In theory, the successful launch of the Bitcoin contract should add confidence in the market and in the broad asset class.

Trading volumes on the Bitcoin futures contract on the first day after the official launch was a little over 4,000 BTC, which is a minuscule amount when compared to the physical Bitcoin market. The contracts did not go as anticipated, but the smooth operations (save for 2 circuit breaker triggers) should, in theory, open the doors for exchanges to deploy more derivatives on Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. CME Group is preparing to launch Bitcoin futures next week.

Price action across crypto exchanges seems to be anticipating something of the like, with Ethereum prices rising over 30 percent during the past 24 hours and Litecoin ballooning almost 80 percent as of writing.

With the rumors already encircling the market, punters have been quick to pile up holdings of Bitcoin alternatives. The dominance of BTC across the broader cryptocurrency markets declined in recent days to a low of 59 percent, when compared to 67 percent of the total crypto market cap last Friday.

Finance Magnates has reached out for a comment to representatives of both exchanges, but at the time of publication, no official response has been received.