According to a report by Business Insider, which cites an individual familiar with the matter, the Cboe is now awaiting further clarification from the Commodity Futures Trading Commission (CFTC) before fulling launching the futures product.
Cboe Global Markets is approaching with fast steps to the launch of Ether futures.
Bitcoin futures are already on the CBOE, with many experts believing that it helped propel the cryptocurrency to its highest price back in December 2017. Helping it recover were Eminem, who recently mentioned the cryptocurrency in his tenth album "Kamikaze", and hedge fund manager Mark Yusko who slammed its critics while noting cryptos will be the "biggest asset" within a decade.
The CME established BTC futures trading on 17th December after the launching of BTC futures by the CBOE. Ether futures could have a similar impact on the crypto's price, according to Lee.
Even in a market downturn, development in this nascent industry rages, with firms continually releasing innovative products and services that could change the future of crypto.
The news comes amid a continued downturn in ETH's fortunes, with Ethereum price 00 battling lows not seen for nearly a year. Some think that this is no unfortunate coincidence, but rather, the effect of short sellers placing bets against Bitcoin via the futures market.
"Since December of this year, if one was bearish on any aspect of crypto but did not want to own the underlying, they could short btc", Lee said.
BTC futures are not just for physical assets, but they can also be traded on financial assets.
CBOE was also the exchange that the proposed Winklevoss ETF was supposed to be based on, before its rejection by the United States Securities and Exchanges Commission earlier this year. In June 2018, a Securities and Exchange Commission director mentioned that the SEC agency did not see the trading of the ether token as a violation of the securities law, which could mean good news for CBOE.