Bitcoin futures transaction volume reaches billions of dollars. The expectation of Ethereum futures from crypto money markets is also increasing day by day. It is claimed that the Chicago Commodity Exchange is in preparation of producing ETH futures.
Ethereum futures demand increases
Crypto currency traders have long been waiting for the 2nd largest crypto currency, Ethereum, to launch futures. According to a report shared by The Block, the CME Group (Chicago Commodity Exchange) plans to produce a financial product related to Ethereum.
It should be noted that CME introduced Bitcoin futures in 2017.
Frank Chaparro of The Block interprets CME’s updates to Ethereum price indices as preparation for Ethereum futures.
The CME Group needed to update the Ethereum Price Index to calculate Ethereum prices more precisely .
There is also some kind of lobbying for Ethereum futures in the market. Thomas Chippas, manager of theUS-based ErisX Stock Exchange, submitted a comprehensive report to the US Commodity Futures Commission (CFTC) explaining the need for Ethereum futures. In this report, it was stated that Ethereum is a strong crypto money project and that many stakeholders from corporate firms to public institutions are using the Ethereum infrastructure. Ethereum futures will be a step in line with the legislation of CFTC.
The high demand for Bitcoin derivatives has been reported to make CTFC taking a positive approach towards Ethereum futures.