Ethereum has spiked by about 10 percent over the last 24 hours following speculation that the U.S. Commodity Futures Trading Commission (CFTC) may be ready to approve ETH futures trading.
CFTC Open to Ethereum Futures Trading
Ethereum 00, the second-ranked cryptocurrency by market capitalization is currently trading at $175; a 10 percent spike in the last 24 hours. This surge comes amid reports that the CFTC might grant approval for an ETH futures trading product.
After a rumor came out that the U.S. Commodity Futures Trading Commission (CFTC) is willing to approve Ethereum futures contract the price of ETH has pumped by 10%. pic.twitter.com/fXonOWkKh6
— ICO Analytics (@ICO_Analytics) May 7, 2019
On Monday (May 6, 2019) a senior official of the Commission who wished to remain anonymous revealed that the CFTC is open to the idea of approving ETH futures trading. Such a move would Ether trading being made readily available to the broader institutional trading arena in the U.S.
Commenting on the matter, the anonymous source…