ConsenSys, a New york based Blockchain startup application has made an announcement that it is partnering with True Digital which is a new affiliation to the interest swaps in attempt to help develop a comparison price for Ether Cryptocurrencies

Following an announcement, the 2 institutions have a plan to develop a reference index which shall be a target for ether which is considered the second largest cryptocurrency by value as an the first step towards making more crypto-space commodities

The partnership has come after truEx’s announced that the company has put in place plans to launch a by-product marketplace for the Cryptocurrency assets

This developments arise out of the increasing interests in the cryptocurrency-based derivative commodities from the institutional investors

Among the first products that are expected to be the bitcoin contract on truEx’s exchange trading platforms but shall be marketed by the TrueDigital brand. This however is pending awaiting approvals by the U.S commodity Futures Tradings Commission.

With regards to CoinDesk reports, the CFTC has already permitted the tradings of Bitcoin future which has been offered by the Chicago Board options and the CME group that was also launched in December 2017

Despite currently being a promising stage, the plan may result to a creation of the exchange products for ethereum if approved hence may provide a reliable price index reference.

Sunil Hirani the founder of TrueDigital, sentimented that the institutional investors and the commercial partners are available for a controlled and a cash marketplace that to be able to gain experience and to be able to hedge against the digital currencies and commodities

The financial market however is continuously losing the required foundations, infrastructures and programmes that the institutional investors have been anticipating in the markets

Coindesk is perceived to be a media channel that longs for the strongest standards and is able to abide to the strict existing editorial regulations being a top guide in the blockchains news

By any chance, some investors have believes that the crypto-space needs justifications. Despite having spoken negatively, the market still threatens to dwindle however the Bitcoins market space may keep surviving