After William Hinman, director of the division of corporation finance for the Securities and Exchange Commission (SEC), shared his view that Ether is not a security, Cboe Global Markets (Cboe) issued a statement about the potential for a financial derivative linked to the cryptocurrency.
“This announcement clears a key stumbling block for Ether futures, the case for which we’ve been considering since we launched the first Bitcoin futures in December 2017,” said Cboe’s president and chief operating officer, Chris Concannon.
When ETHNews inquired about the timeline for introducing Ether futures, Cboe executives declined further comment.
At present, Cboe offers a bitcoin futures product, which is based on auction data from the Gemini cryptocurrency exchange. To date, the exchange has not offered Ether futures, ostensibly because of Ether’s uncertain regulatory status prior to Hinman’s remarks.
In July 2017, Gemini introduced daily Ether auctions, which would probably serve as the reference point for any forthcoming Cboe Ether derivatives.
Matthew is a full-time staff writer for ETHNews with a passion for law and technology. In 2016, he graduated from Georgetown University where he studied international economics and music. Matthew enjoys biking and listening to podcasts. He lives in Los Angeles and holds no value in any cryptocurrencies.
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