First Regulated Ethereum Futures Goes Live on UK Platform
In an announcement on Friday, a U.K-based digital asset trading service, called Crypto Facilities, announced the launch of Ethereum Futures “first regulated contacts”, which will go live on the platform.
“The first Ethereum futures contracts to be offered by a regulated firm to enable market participants to take advantage of cryptocurrency, allowing them to broaden investment opportunities and manage risks more effectively.”
Our ETH/USD Futures contracts are live!
Contract Specs – https://t.co/vDr9Cj4ZKo
— Crypto Facilities (@CryptoFLtd) 11 May 2018
The first batch of the Ethereum futures has a potential impact beyond the startup backed by a cryptocurrency group String Ventures. CryptoFacilities have been involved in futures trading for a long time having supported CME group when it was launching its own Bitcoin futures in 2017.
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. CEO of Crypto Facilities, Timo Schlaefer commented on the launch on Friday saying:
“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.”
Chicago-based trading firm Akuna Capital and London-based market maker B2C2 will provide liquidity for the ethereum futures product.
Toby Allen, head of digital assets at Akuna, said that the firm is “looking forward to seeing this much-needed product fill a gap in the market. The addition of a futures product enables crypto traders to take both long and short positions in ETH and is another giant leap in the development of the crypto asset class.”
B2C2 founder Max Boonen similarly called the move “a natural next step” for ethereum’s token.
“The continuing evolution and commoditization we’re seeing in ethereum will further increase liquidity in the marketplace, enabling participants to exchange assets seamlessly and unlock value. We look forward to providing liquidity for this new product,” he said.
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