Ether will become more accessible for institutional trading of the USA

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According to an announcement, both firms are planning to develop a target reference index for the price of ether (ETH), the second largest cryptocurrency, at a total cost, as an initial step towards creating more crypto trading products available for institutional investors.

The news of the partnership comes along with the announcement of trueEx’s announcement that the company is planning to launch a derivatives market for cryptocurrency assets.

It is assumed that the first product will be a bitcoin contract on the trueEx trading platform, but sold under the TrueDigital brand, the firm said. The contract is currently awaiting approval by the U.S. Commodity Futures Trading Commission (CFTC).

Development is associated with a growing interest in derivative products related to cryptocurrencies, from institutional investors, both firms said.

The CFTC has already authorized trading of bitcoin futures offered by the CME Group and the Chicago Board Options Exchange (CBOE), which was launched in December.

While the plan is currently in its infancy, if approved, it can provoke the creation of exchange products for ethereum with an official reference to the price index.