Cryptocurrency

LedgerX Reportedly Prepares To Expand Its Cyptocurrency Product Line To Add Ether

LedgerX, a bitcoin trading platform, is preparing to increase its cryptocurrency product line to include ether, the native asset of Ethereum. It is, however, has seen a huge increase in volume in the past few months following its launch of cryptocurrency derivatives. The U.S. firm, which was the first trading platform to receive support from the Commodity Futures Trading Commission (CFTC) to list bitcoin derivatives, has advanced a line of ether options and is ready to roll.

While LedgerX has yet not confirmed the news publicly, it is waiting for the approval from regulators, the Commodities Futures and Trading Commission (CFTC). As per the sources, the company could follow a CFTC meeting on October 5, 2018, to discuss possible ways for investors to invest in Ether.

LedgerX began offering bitcoin derivatives in October 2017. With the new cryptocurrency product that the company is planning to launch, professional investors and crypto miners would be able to hedge a bet in a specific underlying market. Besides being a derivative platform, Ether can also be a good investment for asset-managers or traders, something that could be very positive for cryptocurrencies.

As stated in CCN, previously CBOE and CME had launched their bitcoin futures contracts. Currently, it has been operating bitcoin futures since the end of the last year. However, CME has released an ether price index but has been more guarded on its future plans for the cryptocurrency.

LedgerX was established back in 2012 and was founded by Paul Chou. The firm has contacts with billion-dollar hedge funds, family offices, and other institutional investors and swaps trading businesses for bitcoin in October 2017. As per the report published in BC Focus, LedgerX the cryptocurrency platform for trading offers the institutional investors with a range of derivative products. The list of these products includes day ahead swaps, calls, and puts.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
coinmag

Janhvi has been working as a content writer/editor for many years. With her interpersonal skills, she has the ability to generate content in a clear and precise manner. She is currently writing cryptocurrency news stories for OWLT Market.

Leave a Comment

Your email address will not be published. Required fields are marked *