Ethereum futures launched by Crypto Facilities in the UK

Crypto Facilities, an exchange platform in the United Kingdom, has launched Ethereum futures - contracts for a future price of the second most popular digital currency as of today. The Friday move might have been the reason of the recent growth of ETH from $680 yesterday to current $733 (effectively ending the weekend dip), but this little jump might have been provoked by other factors. Cryptocurrency enthusiasts have yet to see the long-term consequences of the launch.

The US-based Akuna Capital is in cooperation with the aforementioned company in this matter and one of the representatives of Akuna has stressed the importance of the new possibility to short Ethereum. This leads to believe that the opening of the futures for Ethereum may actually may be the reason for its downfall in the long term, as previously, bears did not have options to do so. This theory corresponds with what the FRB of San Francisco told about the rise and fall of Bitcoin in 2017. That report has been described by Bitnewstoday in a separate material.

While the launch of Ethereum futures may not necessarily be the reason for its future growth, this event will help one of the main rivals of Bitcoin to achieve further institutionalization. One should note that Crypto Facilities takes the regulation issues seriously and communicates with the UK’s Financial Conduct Authority (FCA) on its financial assets policy. As reports tell, this corporation has already launched Bitcoin and Ripple futures, this indicates that the launch of Ethereum futures was only a matter of time because Ethereum is more capitalized than Ripple.