Litecoin Futures are a Go on UK Crypto Exchange

Litecoin (LTC)derivatives are a go in the UK. Trading platform CryptoFacilities announced that as of Friday, June 22, their new dollar-denominated service will allow investors to trade in futures contracts which have Litecoin as the underpinning collateral, with weekly, monthly and quarterly maturities.

Litecoin Futures Ready to Go in the UK

The announcement comes only a month after the UK based platform launched Ethereum based contracts, increasing the number of crypto-based products already on offer for investors to long or go short including Bitcoin and the Ripple token XRP.

LitecoincreatorCharlie Lee commented on the move, saying,

Litecoin futures will open up LTC trading to more institutional investors. This will add to the liquidity of Litecoin and make it easier for people to get in and out of Litecoin.

Timo Schlaefer, CEO of Crypto Facilities, said:

We are excited to be launching futures on Litecoin, one of the most widely traded cryptocurrencies. There has been strong client demand for this product and we believe our LTC-Dollar futures contracts will increase price transparency, liquidity, and efficiency in the cryptocurrency markets. As digital assets continue to mature, we expect to see a greater number of institutional investors entering the marketplace.

Crypto Facilities reported to an unnamed source that the firm is expecting the trading volume of its Ethereum futures contracts to reach around $150 million in this quarter, accounting for around 10 percent of the platforms total. The move may have been responsible for a small spike in the price of Litecoin pushing it up near $100 earlier this morning but it quicklydropped off and settled on $97.80 at the time of writing according to livecoinwatch.com.

SEC Clarity may Include Litecoin

The announcement from Crypto Facilities comes only a week after the US Securities Exchange Commission head William Hinman made the public statement that neitherBitcoin nor Ethereum would be considered as a security according to the federal regulatory body.President Concannon of CBoE global markets said the announcement clears a key stumbling block for Ether futures. The CBoE and CME have been trading Bitcoin futures since 2017 and have been eager to do the same with Ether.

This may be good news for Litecoin as well, as it operates under the same business model as Bitcoin. The news was not as good for Ripple (XRP), as the same statement that exonerated Bitcoin and Ethereum seemed to indicate Ripples token may end up being classified as a security. Ripple spokesman Tom Channick made a solid effort to put a positive spin on the announcement with an emailed statement that read in part. We are pleased that the SEC has announced that it does not view Ether as a security. We believe that XRP likewise should not be classified as a security and look forward to confirmation from the SEC.


Image from Shutterstock

The post Litecoin Futures are a Go on UK Crypto Exchange appeared first on NewsBTC.

21.06.2018 / 03:10 68
Top U.K Firm to Launch Litecoin (LTC) Futures Top U.K Firm to Launch Litecoin (LTC)
Back in mid May, Ethereum (ETH) Futures were launched by top U.K trading firm, Crypto Facilities. The same firm is now planning on offering Litecoin
Ethereum (ETH) Futures Are Live and Could Be Key To $2,500 Per ETH By End Year Ethereum (ETH) Futures Are Live and
In a press releaseon the 11th of May, UK based Crypto trading platform, Crypto Facilities, launched Ethereum (ETH) Futures to bring greater
Ethereum Futures Launch on Regulated UK Trading Platform Ethereum Futures Launch on Regulated UK
The worlds first regulated ethereum futures will soon begin trading on UK cryptocurrency trading platform Crypto Facilities. The London-based firm
Adding Bitcoin Cash and Litecoin Is Main Goal of 2018 for Gemini Exchange Adding Bitcoin Cash and Litecoin Is
Bitcoin cash and litecoin futures might be coming to Cboe as soon as this year. The Gemini exchange, which supplies the data feed for the trading
Gemini Exchange May Soon Offer Litecoin and Bitcoin Cash Gemini Exchange May Soon Offer Litecoin
The Winklevoss brothers are looking to add additional cryptocurrencies to the Gemini Exchange, while also praising the U.S. Securities and Exchange
Litecoin Price Leaps 30% to New All-Time High Litecoin Price Leaps 30% to New
Litecoin price leaped by nearly a third on Monday, raising the sixth-largest cryptocurrency to a new all-time high. Litecoin Price Touches $185 For
Comments (0)
Add a comment
Comment on