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Institutions Will Start Buying Ether in 2021, Messari Analyst Says
CME Group's announcement that it will launch ether (ETH) futures on Feb. 8, 2021, could spur heightened institutional interest.
Updated Sep 14, 2021, 10:48 a.m. Published Dec 27, 2020, 4:04 p.m.
CME Group's recent announcement that it will launch ether futures on Feb. 8, 2021, is the "writing on the wall" that institutions will being buying the cryptocurrency next year, according to a pair of tweets by Ryan Watkins, an analyst at crypto data provider Messari.
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CME futures is the writing on the wall.
— Ryan Watkins (@RyanWatkins_) December 27, 2020
They wouldn’t launch an $ETH product if there wasn’t any demand for it.
- The price of the second-largest cryptocurrency just topped $700 for the first time since May 2018, and at the time of writing is at $701.90, up 11.19% in the last 24 hours.
See also: Ether Trades Above $700 for the First Time Since 2018
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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