Litecoin founder Charlie Lee is really excited while waiting for Litecoin’s upcoming futures launch.
“Litecoin futures will open up LTC trading to more institutional investors,” Lee said.
“This will add to the liquidity of Litecoin and make it easier for people to get in and out of Litecoin.”
Crypto Facilities to launch the first regulated Litecoin-Dollar futures
Crypto Facilities is a London-based trading and index platform that is planning to launch the first regulated Litecoin-Dollar futures on June 22.
They will also add a new derivative product to its growing list of crypto derivatives which are currently including Bitcoin, Ethereum, and Ripple.
The company offers CME Group which is the largest derivative exchange in the whole world with the CME CF Bitcoin Reference Rate to power its Bitcoin future and the CME CF Ether-Dollar Reference Rate and Real-Time Index.
According to the announcement, Crypto Facilities is responding to client demand and paving the way for big money.
“As digital assets continue to mature, we expect to see a greater number of institutional investors entering the marketplace,” said CEO Timo Schlaefer.
Searching for ways to apply old laws to innovation
The latest addition of Litecoin to the crypto derivatives market comes just two weeks after the Wall Street Journal reported that regulators were investigating how the first Bitcoin futures products from CME Group in December 2017 may have impacted the market, leading to a surge in Bitcoin’s price to nearly $20,000.
CFTC Chairman Christopher Giancarlo Chairman said that “something is going on here that is generational. I think there is a generation that also has lost faith in us that led them through the financial crisis and they see technology as a way of disintermediating institutions for which they don’t have a great deal of respect.”
He also stated that they are struggling to find out how old laws can be applied to innovative applications.