According to a recent report, LedgerX, the first CFTC-regulated cryptocurrency asset management platform to offer physically-settled Bitcoin derivatives, including options and swaps, has options products tied to ether prepped to hit the market.
Sources familiar with the LedgerX product state that regulators from the Commodities Futures and Trading Commission (CFTC) are planning to give their approval decision after an October 5 meeting.
LedgerX isn’t the only group with ether options ready to go live. The Cboe, which notably launched the first fully-regulated bitcoin futures market last December, is reportedly telling market makers that it will soon launch an ether futures market
Similar to Ledger X, the Cboe is currently awaiting further clarification from the CFTC before fulling launching the futures product.
Initially, the launch of a Bitcoin futures market helped propel Bitcoin to above $19,000 before aiding in its rapid drop, some analysts view ether options as a big plus as they lower the barrier of entry for institutional investors. However, the effects are hard to determine as these products will undoubtedly add additional short-side pressure.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.