It’s only been about four months since, when the first futures contracts for bitcoin, but according to one of the veterans of the industry, its customers are demanding more varieties of crypto-currency derivatives.
Managing Director of the futures division of Wedbush Securities Bob Fitzsimmons (Bob Fitzsimmons), who for decades traded on the stock exchange, said that many of his institutional clients want in the market except for futures on bitcoin, also appeared similar products to altcoins with a large capitalization.
«Customers often ask me: when will Litecoin, and when a Ripple,» said Fitzsimmons in a telephone interview, and added that this new class of financial products does not look like a momentary fad.
The leaders of the Chicago Board options exchange CBOE has openly announced its desire to introduce on the platform more types of cryptocurrency derivatives. For this, the exchange operator had to upgrade the trading software. According to the CBOE command, this process was completed last Tuesday. In the CBOE believes that the new cryptocurrency futures will help them to increase their share in the derivatives market.
Other major exchange operators such as Nasdaq, develop their own futures product based on bitcoin to continue to add them to the listing.
At the moment, according to the CEO Friedman Nasdaq Adena (Adena Friedman), all the plans of the exchange associated with cryptocurrencies, are in the «research phase». Friedman noted that they developed their own futures product based on bitcoin, which should attract more investment than those that is currently on the CBOE and CME.
Watching such high interest in cryptocurrency derivatives, the Commission on trade commodity futures (CFTC) stated that they will implement a process «enhanced control» to a new cryptocurrency future products.