Bitcoin has long dominated the cryptocurrency futures market but may soon have to share this advantage with another top coin.
Heath Tarbert, Chairman of U.S Commodities Futures Trading Commission (CFTC), an independent agency that regulates the U.S. derivatives markets, which include futures, swaps, and certain kinds of options, has indicated in a recent interview that the crypto space could soon be witnessing the introduction of Ethereum Futures.
During the interview, Tarbert was asked about how the future of cryptocurrency in the U.S. caught the attention of many. He replied that CFTC was doing a lot of work in the crypto sector, referring to the improvement in the Bitcoin futures, noting that similar progress could also be seen on Ethereum.
Tarbert went on to talk about moves taken by CFTC in the cryptocurrency area and the Futures market:
“We are doing a lot in the digital asset space. We are seeing exchanges started to list, certainly, we have seen Bitcoin Futures, both cash-settled as well as physically-delivered. My guess is we are going to see Ether Futures as well. And as things start to migrate into the commodity space, we will see even more.”
Tarbert has been urging for some time now that the US should do more in terms of digital assets and blockchain innovations. He noted that both in digital assets and in the areas of blockchain adoption, the US could lead.
“Well, the CFTC, I’ve said, I really think not only in the digital assets themselves but in that underline blockchain technology, I want the United States of America to lead in this. I want to encourage innovation.”
Bitcoin showed bullish performance in 2019, rising nearly 90%, Ethereum suffered. ETH shocked investors after showing negative performance and contributing to a further decline in the altcoin market last year.