As Bitcoin found its peak in 2017, the highly anticipated CBOE Bitcoin futures contract launched. But following the release of the contract, the crypto-backed futures subindustry fell silent, with many questioning what was to come for the institutional-focused product.

Insiders: CBOE Ether Futures Could Launch “By The End Of 2018”

According to those familiar with the matter, CBOE, the firm behind the first ever BTC futures contract, is nearing a full release for Ethereum (ETH) futures. Speaking with Business Insider, one of the insiders noted that the project could be launched as soon as the end of 2018.

For those who are unaware, futures are a financial product that allows investors to put money where their mouth is, by letting them bet on the future price of a publicly-traded asset. Now, it’s time to get back to the topic at hand.

Following months of regulatory worries and uncertainty, the U.S. Securities And Exchange Commission (SEC) confirmed that Ether would not be seen as a security in their eyes in June 2018. This piece of regulatory clarification likely opened the doors for CBOE, a foremost US-based exchange, to begin work on the aforementioned Ether futures contract.

Like CBOE’s XBT (Bitcoin) contract, Ether futures are reportedly set to be based on spot prices seen on the Winklevoss-run Gemini exchange, which has become known for working side-by-side with leading regulatory bodies. While the contract seems to be ready for a public release, CBOE insiders noted that the Commodities Futures Trading Commision (CFTC) have yet to show explicit approval for the product, which may be a short-term setback for Ether futures.

Many expect that the eventual arrival of such a contract will propel the development and maturation of Ethereum, and subsequently, the growth of this nascent industry. Speaking on the matter, Danny Kim, the head of growth at SFOX, a cryptocurrency trading technology startup, expressed his excitement for such a vehicle. Kim stated:

“Cboe’s offering will enable crypto traders to take both long and short positions in ether, and it’s another step forward to a new accepted asset class. With this, I think the new investment opportunity will take crypto out of the bearish market and reverse to a new bull.”

While this news was anticipated for months, following the release of the Business Insider report, the cryptocurrency market saw a slight rebound and has continued upward since then. At the time of writing, Bitcoin is up 1.8% on the day and sits at $7,006, while Ethereum is up 1.04% and is holding the $281 price level.