CME Announces No Introduction of Alternative Coin Futures
Following a statement by Terry Duffy, the Chief Executive Officer of CME said that it had no plans of introducing any alternative coins and Bitcoin will be the only futures recipient until further notice.
Speaking in an Interview, the CEO stated that initially, proper evaluation and development for Bitcoin’s situation was required, additionally deeply expressing how Bitcoin futures were among the most controversial announcements and launch of any product.
The CEO explained that alternative coin futures are unable to be launched as of now due to their incredibly unpredictable nature and their infancy in terms of initiation and that listing product simply to see their potential growth is not an option. He adds that as of now, his focus is on Bitcoin and its outcome.
He also continuously echoed the company’s prior stance towards alternative coins’ futures and that anything else focused on other than Bitcoin would be unviable and time-consuming. The company, also among the largest and foremost of exchanges on a global scale and launched BTC futures at the end of 2017.
As of now, the CME is treading lightly in terms of alternative coins and their futures contracts. On the other hand, CBOE, its main rival has confirmed tracking different markets as per its director, Dennis O’Callahan. Additionally, he stated that a close eye on other markets was meant as a means of ensuring everything was in order on the off-chance that altcoins would be looked into. During the last week, reports by the CME stated that its Bitcoin futures ADV climbed a whopping 93% in Q2 of this year.