In 2021, institutional investors’ preferences will extend to Ethereum. The Chicago Mercantile Exchange’s (CME) announcement to launch futures on the second-largest cryptocurrency signals strong demand from major investors, according to Messari analyst Ryan Watkins.
CME futures is the writing on the wall.
They wouldn’t launch an $ETH product if there wasn’t any demand for it.
— Ryan Watkins (@RyanWatkins_) December 27, 2020
The expert believes that after accumulating Bitcoin, institutional investors may be more open to considering other cryptocurrencies as potential investments.
Ethereum futures on CME start on 8 February 2021. The CME launched futures for the first cryptocurrency in December 2017.
Earlier, Pantera Capital chief executive predicted that Ethereum would outpace Bitcoin in growth, citing the launch of phase zero of the second version of the protocol.
Earlier, Messari analysts expressed confidence that the Ethereum network would remain out of reach for competitors thanks to the deployment of a layer-two solution based on Rollups.
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