It made this announcement via a notice to members of its platform on December 16, 2019.
The company sent the notification to both its traders and investors. Informing them of the proposed futures trading launch by the exchange. However, the company never went on to include any details. At the same time, it did reveal that the initiative will involve physically settled BTC futures product.
Thus ErisX is yet to disclose the details of its BTC futures trading. Nonetheless, it installed a system for traders to access cryptocurrencies in a low-friction method.
Speaking on the methods, CSO at ErisX, Matt Trudeau, mentioned that it is a user-friendly one. Particularly, it will make it easier for already existing traders to interact with virtual currencies.
Not interested in individual traders
ErisX is supported by Wall Street. It entered the crypto space in October 2018. Back then, it promised a Wall street-like trading experience. Both for spot and futures crypto trading. The exchange, however, went silent for the most part of the second quarter of 2019. Then, in April 2019, ErisX closed a twenty million dollars Series B when it opened its spot market for crypto trading.
It is also important to note that the exchange has successfully attracted big investors like Dragonfly Capital Partners and Castle Island. ErisX has, however, not marketed itself to individual traders. The firm has been on the search to capture flow from huge brokers such as TD Ameritrade. In July, ErisX got a Derivatives Clearing Organization (DCO) license from the US CFTC.
According to reports by Crunchbase, ErisX has managed to raise the sum of 47.5 million dollars from diverse prominent investors. Investors such as CME Ventures, Digital Currency Group, and TD Ameritrade.
