Chris Concannon, the president of CBOE Global Markets commented in his statement that, "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".
Ethereum has already had a bad year, so many are hoping that the eventual introduction of these futures will not hamper the price of the asset further.
The Chicago Board Options Exchange (CBOE) will now add another future market with the Bitcoin Futures. The operator is believed to have supported its Bitcoin (BTC) futures on the crypto exchange powered by New York-based Winklevoss twins.
Two protuberant digital currency investors and analysts predicted that the value of Bitcoin (BTC) would hit the $20k level since early this year.
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To start out buying and selling futures on Ethereum trade should get hold of the approval of the Fee on commerce commodity futures U.S. (CFTC).
Ether Futures are expected to be launched by the end of 2018.
According to the report published by the Chicago Mercantile Exchange (CME), the BTC futures volume has increased by nearly 93 percent in the second quarter over the first quarter of 2018. In June 2018, a Securities and Exchange Commission director mentioned that the SEC agency did not see the trading of the ether token as a violation of the securities law, which could mean good news for CBOE. Also, the market accounts for a small portion of the total BTC trading arena, so it is unlikely that BTC futures trading had any direct impact on the Bitcoin price trajectory.
In July, the company's CEO, Terry Duff, said that it would only offer BTC futures trading due primarily to the current market volatility.
However, in July, the head of the competing exchange CME Group Terry Duffy, made it clear that he did not want to launch futures on Ethereum and other altcoins due to their volatility, so far.