US SEC has now removed the inhibition threshold for Ether Futures, announces the CBOE President

CBOE launches Ether Futures

CBOE Global Markets seems to be on the verge of launching Ethereum Futures. Recently, a member of the US Securities and Exchange Commission (SEC) has officially announced that the agency does not consider Ethereum to be a security.

On Thursday, the director of the SEC announced that, in his understanding, the Ethereum Network and its decentralized structure, current purchases and sales should not be considered as securities transactions.

This news was very much welcomed by CBOE President and COO Chris Concannon. In a statement, he said that the Exchange was very pleased with the SEC’s decision, and they are glad that clarity has been created around this issue.

Concannon continued:

This announcement has removed an important stumbling block to Ethereum futures. Since the launch of our Bitcoin Futures in December 2017, we have already thought about it.

In previous comments last December, Concannon announced that CBOE was also considering offering Bitcoin cash futures.

Ethereum futures are already available on other platforms in the UK that launched this product in the last month. Crypto Facilities is a special partner of the CME Group and operates its Ethereum Reference Rate Index. A similar index, Bitcoin Reference Rate Index, helped CME launch Bitcoin futures last year.

After the news was announced by Hinmans, the rate of Ethereum shot up over 70 USD, after which the price fell back to 494 USD.

It has long been speculated on how CME and CBOE futures affect the crypto market, traders post the maturity dates of futures, causing some unrest. Now, when Ethereum futures come along, there seems to be more talk.