ErisX to launch futures market tomorrow, according to notice
December 16, 2019, 11:14AM EST
1 min read
ErisX, the Wall Street-backed cryptocurrency exchange operator, said in an alert to potential clients today that its market for cryptocurrency futures will kick-off Tuesday.
ErisX gatecrashed the cryptocurrency exchange world in October 2018, promising a Wall Street-grade trading experience for futures and spot cryptocurrency trading. Still, ErisX has been quiet for most of the second-half of 2019, declining to comment on several occasions over the past few months. The firm, which has courted investors such as Castle Island and Dragonfly Capital Partners, closed a $20 million Series B in April as it opened up its spot market for trading. Rival Bakkt, meanwhile, has launched several derivatives tied to the bitcoin market, including a physically delivered future and option contract.
A spokeswoman did not respond to an email requesting specifics about the products being launched tomorrow.
Unlike most crypto-native exchanges, ErisX hasn't been marketing itself directly to individual traders, but instead has been looking to capture flow from large brokers like TDAmeritrade. Indeed, it was reported in April that TDAmeritrade was working on connecting to ErisX, but that could have been stalled by the firm's announced acquisition by broker giant Charles Schwab.
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