Cryptocurrency trading platform Crypto Facilities has just announced the launch of futures for Ethereum. The new derivatives contract will start trading at 4pm UK time today.
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 cryptocurrency trading platform for professionals, offering individuals and institutions regulated, transparent and secure trading 24/7/365. The firm provides CME Group with the CME CF Bitcoin Reference Rate that powers CME Group’s Bitcoin futures.
Timo Schlaefer, CEO of Crypto Facilities, said:
Ether is the second most liquid cryptocurrency after Bitcoin, trading in the billions of dollars daily, and we are excited to be launching ETH futures. The Ethereum network is the pre-eminent blockchain for smart contracts, and we believe this new trading instrument will attract more investors and bring greater liquidity to the marketplace.
Toby Allen, Head of Digital Assets at Akuna Capital, commented:
Akuna is excited to be a liquidity provider for the Crypto Facilities ETH futures product and is looking forward to seeing this much-needed product fill a gap in the market. The addition of a futures product enables crypto traders to take both long and short positions in ETH and is another giant leap in the development of the crypto asset class.
Max Boonen, Founder of B2C2, added:
We welcome the launch of Ethereum futures by Crypto Facilities, a natural next step for the digital asset. The continuing evolution and commoditization we’re seeing in Ethereum will further increase liquidity in the marketplace, enabling participants to exchange assets seamlessly and unlock value. We look forward to providing liquidity for this new product.