The Chicago Mercantile Exchange (CME) is one of the largest derivatives markets in the world and continues to expand its cryptocurrency derivatives products by adding new ether.Ethereum)-Based products.
CME Group Announce On Tuesday, it plans to launch a micro-Ether futures contract with a scale of 0.1 ETH to provide institutional and individual traders with a new type of ether risk exposure.
The new product will be the fourth crypto derivative product launched by CME Group and is expected to be launched on December 6, 2021, pending regulatory approval.
When the news came out, Ether was at the highest level in history after the release of the cryptocurrency. Friday’s all-time high price, Reaching US$4,460.At the time of writing, the second largest cryptocurrency by market capitalization is trading According to data from the cryptocurrency tracking website CoinGecko, the price is US$4,438.
Tim McCourt, head of global alternative investment products at CME Group, pointed out that the launch of micro ETH futures aims to bring more investors into the market by enabling smaller investments.
“Since the launch of Ether futures in February, we have seen a steady increase in the liquidity of these contracts, especially among institutional traders,” McCourt noted, adding ETH price “more than doubled” Since the introduction of these contracts.
“Micro-Ethereum Futures will provide CME Group with more options and accuracy in trading Ethereum futures in a transparent, standardized and efficient manner,” he added.
Micro Ether futures will join CME Group’s growing number of crypto derivatives products, including Micro Bitcoin futures. Start trading in May 2021. Each contract is worth 0.1 BTC, and the company has traded more than 2.7 million contracts so far.The first and the first CME Group launches Bitcoin futures contract December 17, 2017.