Ethereum up because of futures?

In the early hours of May 7, ethereum's price suddenly rose and is now up 11 per cent at rmb1,217.

The U.S. commodity and futures trading commission (CFTC) has said it may approve ethereum's futures contract if it complies with CFTC rules, sources said.

The last time cryptocurrency futures went live was 18 months ago, in December 2017, when bitcoin futures contracts first went live and bitcoin prices hit an all-time high.

If ethereum futures were to be launched, it is conceivable that more institutional investors would be involved and that the institutional sector would generate retail interest.

However, the authenticity of the information is up for debate, according to CoinDesk, which said the source was an anonymous CFTC source.

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