Ethereum (ETH) Futures Launch Expected by CFTC Chairman

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During his recent interview with Bloomberg, Heath Tarbert, U.S. Commodities Futures Trading Commission chairman, reiterated that Ethereum (ETH) futures are in the pipeline. 

“Certainly, we’ve seen Bitcoin futures, cash-setted as well as physically-delivered. My guess is that we are going to see Ether futures as well.”

Back in October, Tarbert said that Ethereum futures could start trading somewhere in 2020 while expressing the willingness of the CFTC to greenlight the new product.

“I’d say it is likely that you would see a futures contract in the next six months to a year.” 

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Bringing more clarity 

Prior to that, the regulator classified the leading altcoin as a commodity, thus putting it under its purview along with Bitcoin. However, Tarbert recently told Cheddar that things were less clear about XRP, the third biggest cryptocurrency at the center of the damning securities lawsuit against blockchain company Ripple.      

In November 2017, the CFTC allowed CBOE and its Chicago-based rival CME to list Bitcoin futures, which ended up being a turning point for the crypto market. Shortly after CME launched the highly-anticipated product, Bitcoin entered a long-lasting bear market. 

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Taking the lead 

In his latest interview, Tarbert said that he wanted the US to take the lead when it comes to digital assets and Blockchain. He, himself, wants to encourage innovations in the crypto industry.  

“I want the United States of America to lead in this.”

Meanwhile, the Securities and Exchange Commission (SEC) continues kicking the can down the road after rejecting at least a dozen Bitcoin ETF proposals