Ameritrade-backed ErisX launches Ethereum Futures in the US

ErisX, the derivatives platform backed by TD Ameritrade, became the first regulated US exchange to offer Ether futures contracts on May 11. The launch builds on the company's December introduction of

By James Gray·12 May 2020·2 min read

Ameritrade-backed ErisX launches Ethereum Futures in the US

Key Points

ErisX, the derivatives platform backed by TD Ameritrade, became the first regulated US exchange to offer Ether futures contracts on May 11.
The launch builds on the company's December introduction of

ErisX, the derivatives platform backed by TD Ameritrade, became the first regulated US exchange to offer Ether futures contracts on May 11. The launch builds on the company's December introduction of Bitcoin futures.

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Buyers of ErisX's Ether contracts receive actual tokens rather than dollar equivalents. The exchange offers ETH-USD futures to both institutional and retail investors with contract sizes shaped for accessibility across account sizes. Contracts trade on monthly and quarterly bases, with the initial offerings spanning May through September.

"Our contract sizes are accessible for any investor while our technology stack and regulatory framework meet institutional expectations," CEO Thomas Chippas said. He framed the launch as part of ErisX's effort to bring regulated products to the Ethereum ecosystem and broader capital markets. The company sees the Ethereum network's millions of users, including traders and commercial entities, as potential sources of demand for these contracts.

The US Commodity Futures Trading Commission approved the contracts. ErisX gained its registration as a derivatives clearing organization in July 2019, which allowed it to operate crypto derivatives products. When the CFTC approved Ether futures, it reinforced the regulatory view that Ethereum functions as a commodity rather than a security, matching Bitcoin's classification.

Miners, speculators, and hedge funds targeting a regulated venue stand to benefit from the launch. ErisX markets the contracts as part of a robust, liquid, and resilient trading environment. The ETH product could outperform the company's Bitcoin futures, which have generated minimal trading volume since launch. Bakkt, the ICE-owned competitor, saw low volumes when it launched but now averages over 2,000 daily trades.

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