Chicago Board Options Exchange filed an application to the US regulator to launch futures, pegged to the second largest cryptocurrency by capitalization. The launch is expected before the end of 2018.

Witnessing the growing demand for bitcoin futures, CBOE, the largest options and futures exchange in the US, decided to launch Ethereum futures before the end of 2018, Business Insider reports citing a source close to the discussion.

Currently, CBOE is consulting with the US Commodity Futures Commission (CFTC) and is waiting for the final approval to launch new cryptocurrency futures. But unlike bitcoin, which since 2015 is classified by the regulator as a commodity, Ethereum was the subject of a dispute as to whether it is a security.

When calculating the price of the contract, CBOE will take the Ethereum rate on the US-based crypto exchange Gemini as a basis. Gemini also provides CBOE with data on bitcoin price to calculate the price of bitcoin futures.

Earlier, CBOE was the first US stock exchange, which started trading bitcoin futures in December 2017. A week later, it was joined by the Chicago Mercantile Exchange (CME).