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Ethereum Futures Launched on UK based Cryptocurrency Trading Platform

Ethereum Futures Contracts | ethereum news | Cryptocurrency exchange | Crypto Facilities | Ethereum news

UK-based cryptocurrency trading startup, Crypto Facilities, has become the first crypto platform to launch regulated Ethereum futures contracts, making a new derivatives contract available from 4 pm UK time on the 11th of May.

Ethereum futures contract would “bring greater efficiency and liquidity to crypto markets,” making it possible for market participants to take long or short positions on Ethereum.

But this early batch of Ethereum futures has potential impact beyond just Crypto Facilities, which is backed by Digital Currency Group, String Ventures and more. The startup also provided support to the CME Group commodities exchange when it launched its own bitcoin futures last year.

In a statement discussing the new offering, Crypto Facilities chief executive Timo Schlaefer noted that ether is the second-most liquid cryptocurrency after bitcoin, with a daily trading volume in the excess of “billions of dollars.”

“We are excited to be launching ETH futures. The ethereum network is the pre-eminent blockchain for smart contracts, and we believe this new trading instrument will attract more investors and bring greater liquidity to the marketplace.”

The new Ethereum futures offered by Crypto Facilities will expand the range of derivatives offered by the platform, which include both Bitcoin and Ripple futures. Schlaefer said,

“Ether is the second most liquid cryptocurrency after Bitcoin, trading in the billions of dollars daily, and we are excited to be launching ETH futures. The Ethereum network is the pre-eminent blockchain for smart contracts, and we believe this new trading instrument will attract more investors and bring greater liquidity to the marketplace.”

The ETH market price remains volatile, sinking again as the market tides turned. ETH lost nearly 9% to $694.82, sinking 11% net this past week.

Crypto Facilities is also associated to the crypto futures market — the firm currently works in tandem with the Chicago Mercantile Exchange to establish the CME CF Bitcoin Reference Rate, which is integral to the operation of Bitcoin futures.

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