A Big Plus, Ethereum (ETH) Futures Translate to Institutional Investment

Ethereum (ETH) prices add 4.4 percent Anonymous senior official says CFTC may approve compliant ETH derivatives Five months after issuing am RFI, the CFTC may get comfortable with Ethereum (ETH) derivatives opening up doors for institutional investment. Not only will it elevate Ethereum (ETH) position but CFTC approval would cement Ethereum as a go-to smart contracting platform. Ethereum Price Analysis Fundamentals The CFTC is a US Agency that regulates the options and futures market. All entities or funds wishing to roll out crypto futures or options markets must get a…

Gold Futures Projects Bitcoin Price 350% Higher in Roughly 378 Days

There is a strong possibility that the bitcoin price would surge by 350 percent in roughly 378 days, according to past trend behavior noted in the Gold Futures market. Cryptocurrency management firm Trading Shot found striking similarities between the Gold Futures (COMEX) and the Bitcoin spot market. The firm noted that bitcoin’s 2017 surge towards its historical high at $20,000 looked very similar to the Gold Futures’ bullish performance between July 1976 and January 1980. Moreover, their expected bearish corrections also trended hand-in-hand, as shown in the chart below. Gold…

LedgerX Reveals Bid to Beat Bakkt to Physical Bitcoin Futures Launch

Cryptocurrency derivatives provider LedgerX plans to become the first U.S. firm to offer physically settled bitcoin futures contracts. The company announced Monday that it has filed for a designated contract market (DCM) license, which would allow LedgerX to offer physically-settled bitcoin futures products to its customers. Unlike the cash-settled bitcoin futures offered by CME Group (and previously, Cboe), customers would receive the actual bitcoin underlying a contract after it expires, rather than the U.S. dollar equivalent. And perhaps more notably, LedgerX can target retail investors with its new offering, said…

Bitcoin Futures Exchange Bakkt Hires PayPal, Google Vet as Product Chief

Bitcoin futures exchange Bakkt has hired a PayPal and Google veteran as its new chief product officer. The firm announced Thursday that it had hired Mike Blandina, who at various points in his career served as head of payments and credit engineering at PayPal and director of engineering for Google Wallet. Most recently, Blandina was chief technology officer and head of product and engineering at OneMarket, Bakkt CEO Kelly Loeffler wrote in a blog post. “As our CPO, Mike will lead our efforts to converge a trusted ecosystem for digital…

Bitcoin Cash, Litecoin Futures Volumes Top $150 Million at Kraken Exchange

It’s not just bitcoin futures products that are becoming popular with investors, at least according to one U.K.-based crypto derivatives provider. Crypto Facilities, a subsidiary of the San Francisco-based exchange Kraken that provides bitcoin and ether reference data for CME Group and has offered its own derivatives products for years, has seen trading volume in its altcoin futures markets jump dramatically in recent weeks – in particular, its litecoin and bitcoin cash futures contracts, said head of indices and pricing products Sui Chung. He told CoinDesk that the company had…

Crypto Futures and Institutional Interest: Looking in the Wrong Place

Noelle Acheson is a veteran of company analysis and member of CoinDesk’s product team. The following article originally appeared in Institutional Crypto by CoinDesk, a newsletter for the institutional market, with news and views on crypto infrastructure delivered every Tuesday. Sign up here. Last week, the Cboe let its traders know that it would not be renewing its futures contracts on bitcoin. This was taken by many as a sign that expectations of institutional interest in crypto assets were misplaced, and by some as a nail in the crypto coffin. If a significant…

Bitcoin Rallying Above $4,000 Could be Due to Bitmex Futures: Analyst

There is a noticeable correlation between Bitcoin’s latest jump and Bitmex Futures, believes Luke Martin. The renowned cryptocurrency analyst said Thursday that Bitcoin price moved north right after Bitmex launched its September futures, XBTU19. Martin noted that the bitcoin market underwent a jump in volume and volatility after the XBTU19 went live. He also identified two similar events in the past in which the beginning of new futures contracts coincided with increased volatility and volume in the Bitcoin market. Bitmex Futures and Bitcoin Price | Source: Luke Martin Martin referred…

Cboe Will Not Relist Bitcoin Futures Contracts for March

The Chicago Board Options Exchange (Cboe) announced that it will not list upcoming Cboe Bitcoin (“XBT”) futures contracts for trading in March 2019. The Cboe Futures Exchange said that the company is “assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading,” stating that it has no intention to list additional contracts for trading relating to the cryptocurrency. Though it is not confirmed, the reason behind Cboe’s futures closing might be due to its underperformance in comparison to CME’s futures contracts. “The…

‘No Change’ to Bitcoin Futures Plans, CME Says, as Cboe Pulls Back

It’s business as usual for CME Group’s bitcoin futures market, despite a retrenchment by rival derivatives exchange operator Cboe Global Markets. Contacted by CoinDesk Friday, a spokesperson for CME said the exchange has “no changes to announce re our bitcoin futures contract” and declined to comment on Cboe’s pullback. The affirmation is notable in light of the news Thursday that Cboe will not add a bitcoin futures contract for trading in March. This means that after the last currently traded futures expire in June, this market will essentially come to…

Polychain, DCG Invest in Crypto Futures Exchange CoinFLEX

Venture capital firms Polychain Capital and Digital Currency Group (DCG) have invested an undisclosed sum in cryptocurrency futures exchange CoinFLEX. Announcing the news on Wednesday, CoinFLEX said that, with the new funding, the two firms have joined its previous backers, including Trading Technologies, Roger Ver and Dragonfly Capital Partners. CoinFLEX is launching what it calls a “global, scalable and secure crypto futures exchange” that will offer physically-delivered bitcoin futures and, in future, a stablecoin-to-stablecoin futures contract. Explaining the investment, Polychain CEO Olaf Carson-Wee said: “As a physically-settled futures exchange, CoinFLEX will…