Tuesday, March 13, 2018

Move over Bitcoin as the next target for Wall Street to co-opt a cryptocurrency through derivatives appears to be Ethereum

It was only natural that the grand-daddy of cryptocurrencies would be the first and primary target of Wall Street.  And it did not take long following the introduction of derivatives trading (Coinbase - options, CME - Futures) with Bitcoin to see the price stagnate well below its all-time high.

Now on March 12 the next 'ripe fruit' in the cryptocurrency sector is being pursued by the banking and investment cartels as a company tied to the world's interest rate swap market looks to introduce its own derivative trading on Ethereum.

Two digital-oriented companies have teamed up to establish a benchmark price for ethereum, the world’s second-largest cryptocurrency by market value. 
The New York-based blockchain application startup ConsenSys, in partnership with TrueDigital, a subsidiary of global electronic exchange for interest rate swaps trueEX, announced plans to develop a target reference index for ethereum prices. The move is an initial part of a broader project to make more crypto-trading products available for institutional investors, such as banks, investment funds, brokerage firms or insurance companies. 
At the same time, the trueEX exchange said it was planning to start a derivatives marketplace for trading cryptocurrency assets. The opening product is expected to be a bitcoin contract, which will be trading on the firm's swap platform. The contract, which will be marketed under the TrueDigital brand, is reportedly waiting for approval from the US Commodity Futures Trading Commission (CFTC). – Russia Today
The sad truth is that there is much more money to be made in the derivatives market than there is in owning or trading a given commodity or currency, as all one has to do is look at the sum total of the over $1 quadrillion currently invested world wide in this market. 

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