The President of CBOE Global Markets has commented on the SEC’s recent clarification on the regulatory status of Ethereum, stating that as ETH is not at risk of classification as a security it’s possible that the CBOE may be able to begin offering Ethereum futures in the near future.
On June 14th, the SEC officially announced that it won’t consider Bitcoin bitcoin and Ether as securities, thus putting the long wait to its end. Naturally, the market responded immediately.
Despite being in a state of major correction, the overall cryptocurrency market saw gains of almost $20bln in just a few hours after the news broke out, marking an increase of almost 7 percent according to CoinMarketCap.
Prices of Bitcoin and Ether rose accordingly. Bitcoin spiked with about 5 percent, while the Ethereum soared with as much as 11 percent hours after the announcement.
CBOE President Chris Concannon hinted toward the possibility of Ethereum futures in statements released to Bloomberg on Friday, June 15, implying that fact that the SEC does not view Ethereum as a security future increases the chances of the regulatory body signing off on Ether futures.
“We are pleased with the SEC’s decision to provide clarity with respect to current Ether transactions. This announcement clears a key stumbling block for Ether futures, the case for which we’ve been considering since we launched the first Bitcoin futures in December 2017.”
In December, CBOE and fellow Chicago exchange CME listed bitcoin futures, and both have hinted a desire to list more cryptocurrency derivatives products. However, regulatory uncertainty surrounding the status of other cryptoassets has slowed this process.
Ethereum futures are already live on another platform – the U.K.-based startup Crypto Facilities launched the product last month. Crypto Facilities is notably a partner with CME Group, and is powering the latter’s Ether Reference Rate Index. A similar bitcoin index helped CME launch bitcoin futures last year.
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