Connect with us


CME group expands crypto derivatives offerings; to launch Micro Ether futures



Source: Pixabay

Prominent derivatives marketplace, Chicago Mercantile Exchange [CME] took its interest in Ethereum seriously, as it announced that it is expanding its crypto derivatives offerings to include Micro Ether futures.

According to an official statement by the derivatives provider, this series will launch on 6th December. Micro Ether futures are sized one-tenth of one Ether as per CME, and will provide an efficient, cost-effective way to users.

Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products noted,

“Since the launch of Ether futures in February, we have seen steady growth in liquidity in these contracts, especially among institutional traders.”

He added,

“At the same time, the price of ether has more than doubled since these contracts were introduced, creating demand for a micro-sized contract to make this market even more accessible to a broader range of participants. Micro Ether futures will offer even more choice and precision in how they trade Ether futures in a transparent, regulated and efficient manner at CME Group.”

This Micro Ether futures offering will be joining CME’s list of other crypto derivatives including Micro Bitcoin futures. As per the platform, more than 27 million contracts have been traded for Micro Bitcoin futures since its launch in May. Meanwhile, over 675,500 Ether [equivalent to 33. million ether] futures contracts have traded.

It is worth noting, that these Micro Ether futures are cash-settled and use CF Benchmarks reference rates.

Read the best crypto stories of the day in less than 5 minutes

Subscribe to get it daily in your inbox.

Please select your Email Preferences.

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Click to comment

Leave a Reply

Your email address will not be published.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.