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Citing an unnamed source with knowledge of the situation, Business Insider reports that CBOE wants to become the first US exchange to list an ethereum futures product, which would transform ether into more of a two-sided market by allowing professional traders to go both long and short on the second-largest cryptocurrency.

BOE Global Markets, the company behind launching Bitcoin [BTC] futures a year ago, has reportedly revealed that they would be launching a futures market for Ethereum [ETH] as well.

Should the rumored futures go ahead, they would use Gemini's underlying market, the people continued, the setup mirroring CBOE's Bitcoin setup, which also uses the Winklevoss twins' platform. Somewhat ironically the announcement of Bitcoin futures allowed for a huge increase in upwards price action back in January; however, once online Bitcoins price fell dramatically. Helping it recover were Eminem, who recently mentioned the cryptocurrency in his tenth album "Kamikaze", and hedge fund manager Mark Yusko who slammed its critics while noting cryptos will be the "biggest asset" within a decade. This, as they'll help alleviate the pressure the cryptocurrency is under by giving crypto bears an alternative currency to short.

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Ultimately, the outcome of the new Ethereum futures market will reach an equilibrium between the price boost resulting from increased adoption and institutional investor attention, and the downside from greater exposure to bearish contracts. The platform, BTC Futures are not only for physical assets, however, the financial assets can also be traded on it. The introduction of bitcoin futures, for example, was presumably one of the reasons why it rose sharply for a short time.

The futures and options exchange is waiting on the Commodities Futures Trading Commission to get comfortable with the product before its official launch, a person with knowledge of the matter said.

His claims seem to be corroborated by the historical price action of Bitcoin following the initial CBOE and CME futures release. Ether futures could have a similar impact on the crypto's price, according to Lee.