Ether to be soon available on LedgerX
According to The Block, LedgerX, which we already know deals with bitcoin swaps is now ready with ether to go live.
Regulators from Commodities Futures and Trading Commission (CFTC) will first test the product and the approval might take place after a regulatory meeting on October 5.
In 2012, Paul Chou, an Ex- Goldman Sachs trader found Ledger X. The firm has integrated with billion-dollar hedge funds, family offices, and other institutional investors from the time it was open to options and swaps trading businesses for bitcoin in October 2017.
With opportunities like these investors can purchase an asset at a set price in future. It also provides a path to hedge a bet in an unrevealed market.
Now, as Ether is also a part of LedgerX it could make it look better for the asset manager or trader, providing a direction for Ether’s price.
“Ethereum has suffered over the course of the past month as bears have stormed the market, slashing more than 20% of its price from the beginning of September to the time of print. On September 21, Ripple’s XRP briefly surpassed ether by market capitalization, per data from CoinMarketCap,” said the report.
At the time of writing, Ether was trading at $215.
According to a report by BC Focus, two regulated exchanges are operated in the U.S., namely, Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE), located in Chicago. LedgerX, the crypto trading platform provides the institutional investors with a range of derivative products. The list of these products includes day ahead swaps, calls, and puts.
After having launched bitcoin futures in 2017, CBOE is now finding ways to launch a futures product in ethereum.
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