Patrick MAKEDONAS admin, [May 18, 2018, 9:50:08 PM]:
📊CME Ethereum Futures📊
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After launching Bitcoin futures in December, the CME has stood amid the greatest influencers in making cryptocurrency more accessible to traditional investors. Their actions have made cryptocurrencies more liquid and, therefore, more appealing to investors and traders - which is crucial if we wish to see this space grow to the multi-trillion dollar market that it deserves to be.
To further staple itself as a leader in advancing cryptocurrency adoption, the Chicago Mercantile Exchange announced last week that it will, in partnership with Crypto Facilities, a digital assets trading company based in the United Kingdom, launch an Ethereum Reference Rate and a Real-Time Ether-Dollar Index; these features will be calculated by Crypto Facilities - which, early last week, launched the very first Ethereum futures component within the traditional market.
“The Ether Reference Rate and Real Time Index are designed to meet the evolving needs of this marketplace,” said Tim McCourt, managing director and global head of equity products and alternative investments at CME Group. “Providing price transparency and a credible price reference source is a key development for users of Ethereum.”
The Ether Reference Rate and Real Time-Index will be established on activity and transactions recored on two exchanges: San Francisco-based Kraken and Luxembourg-based Bitstamp.
This strategic move indicates the CME is ready to list ETH futures products on its trading platform - which would give traditional investors greater access to the cryptocurrency market, so long as ETH futures are implemented.
Before making any investment, we always find peace in investigating how the market has historically reacted to news and rumors. To paint a picture of how ETH may react to the futures news, we set our eyes upon Bitcoin’s chart around the time the community first learned of the imminent BTC futures launch.
:O