Unconfirmed: CBOE and CME Want to Trade Ethereum and Litecoin Futures
CryptoBit News Today2 min read
It was an eventful week for the cryptocurrency markets as rumors began circulating that two of the world's largest financial derivatives exchanges may soon add Ethereum and Litecoin futures contracts to their offerings. If true, it would be a major development for the two major altcoins that have been consistently atop the crypto charts. The CBOE and CME are both based in the United States, and both are planning to launch Bitcoin futures on their platforms soon. ## CBOE Adds Ethereum, Litecoin Futures to Product Plans
Speculation began after a source close to the exchange told a reporter at the site that the CBOE, which is launching Bitcoin futures in a couple of weeks, was able to get regulatory approval for its contract, much more smoothly than the CME. The source claims the CBOE has received approval to list Ethereum and Litecoin futures, subject to final review, with potentially trading to begin early next year. The exchange is making the move to build on the success of the Bitcoincurrent front-runner, as Bitcoin futures volume explodes on its platform. The source was vague and did not provide any additional details. Neither the CBOE nor the CME has provided confirmation. ## Impact on Litecoin and Ethereum
If news confirms the move, it could be a boon for the altcoins, which have had a volatile few months this year. Ethereum, which has hovered around a couple of zeros since the summer, would benefit from a boost, as would Litecoin. The latter has attempted to position itself as a complement to Bitcoin, due to its faster transaction times. ## What This Means for Crypto Markets
The move signals a potential trend, as Bitcoin futures are set to begin trading on several other major exchanges in the coming months. Maybe these movements will open the door to the broader acceptance of cryptocurrencies in the financial markets. It is still too early to speculate about the long-term impact, as the futures are only just about to officially go live, in the Bitcoin case, so far. But the futures will likely prove popular with traders, and will most likely boost liquidity. However, it may also provide a way for institutional investors to short the market, which could not have a positive effect, if they were to do so in large quantities. ## Conclusion
For now, these are just rumors. It is not known if the CBOE or CME has the ability to get approval for these altcoins, as they did with Bitcoin, or when the rumors, if true, will come to pass. But if confirmed, the trading of these futures contracts would be a big win for Ethereum and Litecoin, and potentially other altcoins in the future.
