Cboe Global Markets Inc., which launched bitcoin futures in December, is considering adding other cryptocurrency futures products.
In an interview with CoinTelegraph, Dennis O’Callahan, CBOE’s director for product development, said “we have been looking at the Blockchain itself, and cryptocurrencies themselves, so we have been looking for a long time, but never found a way that we were comfortable with until last year in March, when we looked at this particular design that we have. It is still an ongoing process.”
Bitcoin futures debuted on the Cboe in December, followed by a launch on the CME. Nasdaq Inc. is still considering entering the bitcoin futures competition.
Market observers previously expected Nasdaq to launch futures on the digital currency this year, perhaps as early as the second quarter. After bitcoin, the largest cryptocurrencies are Ethereum, Ripple, Bitcoin Cash and Litecoin.
“Being in product development our task is to look for new products all the time, so we are constantly evaluating that market, and we are evaluating other cryptocurrencies too, among other items,: said O’Callahan in the CoinTelegraph interview. “But we have seen how Bitcoin has worked, so we are definitely monitoring other markets to make sure that the infrastructure and everything is in place in case we want to pursue other cryptocurrencies.”
O’Callahan said about 7,000 bitcoin futures contracts trade per day on CBOE. Earlier this month, news broke that Cameron and Tyler Winklevoss, the brothers that pushed to introduce the first U.S. bitcoin exchange traded fund, the Winklevoss Bitcoin Trust, are looking to expand their Gemini Exchange to include more digital currencies.
“Gemini has an exclusive deal to supply the data used to calculate Cboe’s Bitcoin contract,” reports Bloomberg. “Cboe could presumably add Ethereum now, given Gemini trades that, but expanding further would require Gemini widening its roster. Tyler Winklevoss said the licensing agreement with Cboe is scalable, and they entered into the deal knowing it could expand in terms of offerings.”
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