One of the largest exchange holding companies are looking to launch Ethereum (ETH) futures end of this year. CBOE (Chicago’s board of exchange) and CBOE Global markets we are talking about. Business insider reported August 30.
The plan is to launch it end of 2018. CBOE launched Bitcoin (BTC) futures in December last year where the price crashed after launching the BTC futures. Futures are a agreement to buy and sell an asset, in this case a digital asset Bitcoin (BTC) on a specific future date at a specific price and give investors the possibility to speculate on the Bitcoin(BTC) price without owning Bitcoins (BTC). So Bitcoin futures are assets not physically backed by Bitcoin. Therefor it can have a negative output for the price of Bitcoin (BTC) because there is no money flowing into the market but in to the agreements.
A major U.S. finanacial regulator, the SEC (Securities and Exchange Commission) said in June that Ethereum (ETH) was not counted as a security. Following CBOA Global Markets president Chris Concannon said “This announcement clears a key stumbling block for Ether futures”.
So what can happen with the price of Ethereum (ETH) ?
We are looking closely at the news as the last futures from CBOE announcement boosted the Bitcoin (BTC) on a big bull run we have all seen.
When the Ethereum (ETH) futures are a fact, and again a FACT, there will be definitely reasons to believe another bull run is possible.
Although do take in mind that after the release date of Bitcoin (BTC) futures the price dropped massively. Expect it also when Ethereum (ETH) futures are up and running.