ErisX Launches Ethereum Adjustable Deliverable Futures

Chicago-based cryptocurrency derivatives exchange ErisX is the first in the United States to open trading in regulated futuresEthereum physical delivery contracts.

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Trading in dollar-denominated new instruments with monthly and quarterly expiries has become available from today.

“Ethereum has genuine functionality and user cases involving users, companies and governments; the structure has many similarities with commodity markets, ”— stated in the platform's blog.

In December 2019, ErisX launched bitcoin futures, but by now it has not gained much popularity in comparison with the performance of CME and unregulated exchanges.

Until today, the announcement from ErisX in the United States was notno derivative products based on ETH, mainly due to the continuing uncertainty regarding the legal status of the second cryptocurrency in the eyes of US regulators.

The chairman of the Commodity Futures Trading Commission (CFTC), Heath Tarbert, predicted last October that regulated futures on Ethereum would appear within six months or a year.

Recall that in May ErisX was the first to receive a license for conducting activities in the field of virtual currencies (BitLicense) from the New York Department of Financial Services (NYDFS) this year.

Prior to this, the company received the approval of the Commission forUS derivatives trading to provide services as a clearing center for derivatives. Together with Bitlicense, ErisX gained the right to operate in 47 states and jurisdictions, including New York.