Insider source: There's a "good chance" CFTC will approve Ethereum futures

06 May, 2019
by Will Heasman
Insider source: There's a good chance CFTC will approve Ethereum futures

According to a source inside the US Commodity Futures Trading Commission (CFTC), regulators may be about to approve an Ethereum futures contract…

The source, who didn’t want to be identified is allegedly a senior official, who told Coindesk of the CFTC’s plan to approve an Ethereum (ETH) futures contract, as long as it complies with regulatory conditions.

The chances of approval are fairly high given that the CFTC previously allowed the commencement of bitcoin futures back in late 2017. Interesting that approval was cited as a key factor and catalyst for the 2017/2018 bull run in which Bitcoin almost tasted the dizzying heights of $20k.

BTC/USD Chart provided by Tradingview

In the official's own words:

“I think we can get comfortable with an ether derivative being under our jurisdiction,” they said, “we don’t do bold pronouncements, what we do is we look at applications before us.”

The official went on to explain the process of a futures launch, giving good odds to the idea of the approval of an ETH futures contract:

“A derivatives exchange comes to us and says ‘we want to launch this particular product.’ … If they came to us with a particular derivative that met our requirements, I think that there’s a good chance that it would be self-certified by us.”

So there’s a fairly good chance we’ll see an ETH futures contract approved by the CFTC fairly soon, but will this lead us into a bull run? How do you thin the price of ETH will respond to this news? Let us know in the comments!

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