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UK-Based Cryptocurrency Trading Platform Launches “First Regulated” Ethereum Futures

Ethereum

Crypto facilities, a UK-based digital currency platform, has launched its “first regulated” futures contracts for Ethereum (ETH) according to a press release on May 11.

Crypto facilities are a company that is regulated by Financial Conduct Authority (FCA) in the United Kingdom and will start trading Ethereum contracts Friday at 4 p.m. UK time. The startup will not only impact Crypto Facilities company but also support the CME Group commodities exchange when it unveiled its Bitcoin futures last year.

Timo Schlaefer, the founder, and CEO of Crypto Facilities notes that trading with Ethereum futures signifies the mature state of digital assets considering that various exchange platforms such as Cboe are also involved in crypto futures.

Bitcoin has shown progress as a financial asset after unveiling its Bitcoin futures last year, and Ethereum is keenly following their steps in the same direction.

Akuna Capital, a Chicago-based trading firm will offer liquidity for the crypto Facilities Ethereum futures and will be anticipating the entry of this product into the market. According to Toby Allen, the head of the digital assets at Akuna Capital, the addition of another futures product will make investors take positions in the Ethereum platform.

Last March, incubator ConsenSys, an Ethereum startup publicized their partnership with TrueDigital to create a benchmark price for Ether digital currency with the aim of developing their futures.

Regardless of some uncertainty whether Ethereum may be taken as security, its price declined by 2% yesterday, but it has increased by over $88 from last May to a cost of $700 currently.
Different jurisdictions decide to decide if Ethereum is security. Crypto Facilities is a company that complies with the underlying regulations”, said Schlaefer.

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