The British crypto futures platform Crypto Facilities launches a derivative product tied to the Litecoin, CoinDesk reports.
The new instrument, denominated in US dollars, will be launched on Friday, June 22, and will allow investors to buy short and long futures contracts for Litecoin with weekly, monthly and quarterly calculations.
We believe our LTC-dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets.
CEO, Crypto Facilities
Litecoin founder Charlie Lee, commenting on today's announcement, said that futures will provide access to the cryptocurrency to institutional investors, which in turn will increase its liquidity and "make it easier for people to get in and out of litecoin."
A month ago, Crypto Facilities launched Ethereum futures. The company expects that the volume of Ethereum futures trading will reach $ 150 million this quarter, which will be about 10% of the total volume of the site.