Cboe Acquiring Erisx to Enter Cryptocurrency Spot and Derivatives Markets – Exchanges Bitcoin News


Cboe is acquiring Erisx to enter the crypto spot and derivatives markets. “With Erisx, in a single step, Cboe is able to enter the digital asset spot, data, derivatives, and clearing ecosystem. Now is the right time to fully embrace and help define this emerging asset class,” said Cboe’s chief operating officer.

Cboe Entering Crypto Spot and Derivatives Markets

Cboe Global Markets Inc. (Cboe: CBOE) announced Wednesday that it has agreed to acquire Eris Digital Holdings LLC (Erisx).

Erisx’s futures exchange and clearing house are regulated by the Commodity Futures Trading Commission (CFTC). In addition, its clearing house is registered with the Financial Crimes Enforcement Network (FinCEN) and licensed in many U.S. states and territories.

How To Get Free Crypto  

Noting that “Erisx operates a U.S. based digital asset spot market, a regulated futures exchange, and a regulated clearing house,” the announcement details:

Ownership of Erisx provides Cboe with entry to digital asset spot and derivatives markets, including clearing and settlement.

“With Erisx, in a single step, Cboe is able to enter the digital asset spot, data, derivatives, and clearing ecosystem,” said Chris Isaacson, chief operating officer of Cboe. “Now is the right time to fully embrace and help define this emerging asset class.”

Erisx’s product suite includes multiple cryptocurrencies, stablecoins, physically delivered bitcoin and ether futures, and cash-settled futures. The acquisition is expected to close in the first half of 2022, pending regulatory approvals.

Cboe offered bitcoin futures back in 2017 but pulled the product in March 2019. The company now plans to operate a digital asset business as Cboe Digital with the help of Digital Advisory Committee, which will be formed to advise Cboe on the ongoing development of the Eris spot and derivatives markets. The committee’s members will include DRW, Fidelity Digital Assets, Galaxy Digital, Interactive Brokers, NYDIG, Paxos, Robinhood, Virtu Financial, and Webull.

Coinbase Banner  

Tom Jessop, president of Fidelity Digital Assets, opined: “The Cboe-Erisx combination represents an attractive opportunity to collaborate with a global exchange operator who can bring increased regulatory proficiency, resilient technology and product expertise to digital asset markets. We look forward to collaborating with Cboe Digital.”

Matthew McDermott, Global Head of Digital Assets at Goldman Sachs, expressed his support, saying:

This is an exciting development for institutional adoption of cryptocurrencies, and we look forward to finding ways to work closely with the newly created group, Cboe Digital.

What do you think about Cboe acquiring Erisx to enter the crypto spot and derivatives markets? Let us know in the comments section below.

Tags in this story

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Go to Source
Author: Kevin Helms

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

FreeBitcoin Banner  

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.