ICE announces no Bitcoin Futures this year – could this mean no Santa Claus rally?

The New York Stock Exchange (NYSE) will not be listing the new Bakkt Bitcoin Futures this year. Instead, the launch has been postponed until at earliest late January next year.

According to an announcement from NYSE owner Intercontinental Exchange (ICE), the product – dubbed Bakkt Bitcoin (USD) Daily Futures Contract – is now expected to be listed for trading on 24th of January 2019, rather than the initial date of 12th of December next month:

“ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval. The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”

The Bakkt product is designed to provide investors with the opportunity to trade a physically-settled cryptocurrency contract or futures product on a regulated exchange. As ICE explains in detail:

“ICE Futures U.S. offers physically delivered daily futures contracts on Bitcoin traded in BTC/USD (subject to regulatory approval). These contracts will be traded on ICE’s electronic trading platform, which offers industry-leading speed and reliability, regulated by the CFTC. All trades are cleared and guaranteed by ICE Clearing US, the central counterparty for all ICE cleared forex futures trades. Trades will result in physically delivered Bitcoin in the regulated Bakkt Warehouse. Market participants are eligible to transact with any other market participants. ICE physically delivered bitcoin futures offer trading and hedging opportunities.”

The launch of the product is hoping to send prices of the market upwards and analysts have been predicting that the launch of the product in December could helped see to a “Santa Claus” rally. With this delay, however, Christmas might have to come a little later than anticipated.

Although a delay might be a bad thing in the short-term, it might be beneficial in the long-term and could ultimately cultivate a healthy, sustainable crypto-ecosystem.


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Author: Rebecca Leighton
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Litecoin Founder Charlie Lee Bullish on New Litecoin Futures

Litecoin founder Charlie Lee is excited about the potential impact of Litecoin’s upcoming futures launch.


“Litecoin futures will open up LTC trading to more institutional investors,” says Lee. “This will add to the liquidity of Litecoin and make it easier for people to get in and out of Litecoin.”

London-based Crypto Facilities, a trading and index platform, will launch the first regulated Litecoin-Dollar futures on June 22, enabling market participants to go long or short Litecoin. Crypto Facilities will add the new derivative product to its growing list of crypto derivatives which currently includes Ethereum, Ripple and Bitcoin.

The firm provides CME Group, the world’s largest derivatives exchange, with the CME CF Bitcoin Reference Rate to power its Bitcoin futures, and the CME CF Ether-Dollar Reference Rate and Real Time Index.

According to the announcement, Crypto Facilities is responding to client demand and paving the way for big money. “As digital assets continue to mature, we expect to see a greater number of institutional investors entering the marketplace,” said CEO Timo Schlaefer.

The latest addition of Litecoin to the crypto derivatives market comes just two weeks after the Wall Street Journal reported that regulators are investigating how the first Bitcoin futures products from CME Group in December 2017 may have impacted the market, causing a surge in the price of Bitcoin to nearly $20,000. Bitcoin is currently trading around $6,751.

The Commodity Futures Trading Commission (CFTC) subpoenaed four major exchanges – Coinbase, itBit, Bitstamp and Kraken – in order to examine trading data at the time of the futures launch and to evaluate the likelihood of Bitcoin manipulation. The agency has taken a cautious yet open approach to virtual currencies, issuing an advisory notice regarding pump and dump schemes, and noting that the latest advancements in the fintech sector “have the potential for significant or even transformational impact on CFTC-regulated markets and the agency itself.”

CFTC Chairman Christopher Giancarlo Chairman has been outspoken about the agency’s need to understand the appeal of cryptocurrencies and new technology. “There is something going on here that is generational. Just as the baby boomer generation lost faith in the leaders that came before them and tried to seek a cultural change in those days through sex, drugs and rock and roll, I think there is a generation that also has lost faith in us that led them through the financial crisis and they see technology as a way of disintermediating institutions for which they don’t have a great deal of respect,” he said. “We are struggling to find out how we apply an old law to really new and different applications.”


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Daily Hodl Staff
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Ethereum (ETH) Futures Are Here and Being Offered by UK Firm

There is a UK Based Crypto trading platform that has launched the ‘First Regulated’ Ethereum (ETH) futures. The trading firm is known as Crypto Facilities and has been offering other Futures products for quite some time now. The firm was the first to offer Ripple (XRP) futures back in September 2016 when its main goal was to expand its new platform by adding additional products, assets, and derivatives.

The trading firm made the Ethereum (ETH) Futures announcement only yesterday and had this to say:

“The first Ethereum futures to be offered by a regulated firm, the products will enable market participants to take a long or short position in the cryptocurrency, allowing them to broaden investment opportunities and manage risks more effectively.

The new contract expands Crypto Facilities’ derivatives offering which currently includes Bitcoin and Ripple futures. Crypto Facilities is a world-leading cryptocurrency trading platform for professionals, offering individuals and institutions regulated, transparent and secure trading 24/7/365. The firm provides CME Group, the world’s largest derivatives exchange, with the CME CF Bitcoin Reference Rate that powers CME Group’s Bitcoin futures.”

The firm’s CEO, Toby Allen, cited the popularity of Ethereum as one of the reasons to offer the new product on its platform. He also added that the popularity of the Ethereum Smart Contracts makes it a good choice for the new trading instrument on its platform and that ETH Futures will be a giant leap in the development of the crypto asset class.

However, past experiences with the launch of Bitcoin (BTC) futures might make many Crypto- traders wary of the new product. The introduction of BTC Futures last December by the CME Group has been blamed, albeit silently, for the sudden drop of BTC prices that was kicked off on the 17th of December. Before the BTC Futures started trading, BTC was enjoying new heights of over $19,000 only to drop significantly and starting on the day after the BTC futures started trading.



Current price predictions put Ethereum at $2,500 by end year. Could the introduction of ETH Futures turn out to be an impediment in the attainment of this value?

The current market analysis put Ethereum at $667 at the moment of writing this and down 4% in 24 hours. The King of Smart Contracts had seen some glimmer of hope by reaching near $900 levels when it had peaked at $839 on the 6th of May. It has since dropped to current levels that have been accelerated by news of popular South Korean exchange, Upbit, being raided by Authorities over accusations of ‘cooking its books’. There are also rumors of the Mt. Gox trustee dumping another round of BTC in the markets.

In conclusion, the effects of the addition of ETH Futures is a welcome sign of crypto products being considered as alternative investment options. The effects of the announcement will be seen once the dust clears with respect to the above two events currently affecting the crypto-verse.


Here at Dollar Destruction, we endeavor to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: David Gekko
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