Bitcoin futures contracts are not anything new right now but according to the Chairman of the Commodity Futures Trading Commission (CFTC), Heath Tarbert, the first Ethereum (ETH) futures contracts could come as soon as 2020. Tarbert, who announced weeks ago that the CFTC officially classifies ETH as a commodity and not a security, also hinted at the time that that the Commission would be more than ready to allow ETH futures contracts in the market.
Tarbert gave these new remarks during a speech at the DC Fintech Week in Georgetown University, but didn’t give any more specific details. According to him:
“I’d say it is likely that you would see a futures contract in the next six months to a year.”
He then added that there might be a good chance, especially since the Commission has declared ETH as a commodity.
“The volume to which it’ll trade, no idea. That’s where the markets decide. But my guess is now that we’ve provided at least…a little bit more clarity on [the matter], my guess is market participants will consider that.”
So far, Tarbert’s comments are largely based on speculation and he has specifically mentioned that there is currently no application made to the CFTC. Regardless, the Chairman has specifically mentioned that the general public can rest assured that any CFTC approved futures contracts, would be totally free of market manipulation.
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