The Chicago Mercantile Trade (CME), one of many world’s greatest derivatives marketplaces, continues increasing its cryptocurrency derivatives choices by including a brand new Ether (ETH)-based product.
CME introduced Tuesday that it’s planning to launch a micro Ether futures contract, sized at 0.1 ETH, enabling a brand new sort of Ether publicity to institutional and particular person merchants.
The brand new product will develop into the fourth crypto derivatives product ever launched by CME and is anticipated to be rolled out on Dec. 6, 2021, pending regulatory approval.
The information comes amid Ether sitting close to all-time excessive ranges after the cryptocurrency posted its highest historic worth on Friday, reaching $4,460. On the time of writing, the second-largest cryptocurrency by market cap is buying and selling at $4,438, in line with knowledge from cryptocurrency monitoring web site CoinGecko.
Tim McCourt, CME Group World head of different funding merchandise, famous that the launch of micro ETH futures goals to convey extra traders to the market by enabling smaller investments.
“Because the launch of Ether futures in February, now we have seen regular progress in liquidity in these contracts, particularly amongst institutional merchants,” McCourt famous, including that ETH worth has “greater than doubled” since these contracts have been launched.
“Micro Ether futures will supply much more alternative and precision in how they commerce Ether futures in a clear, regulated and environment friendly method at CME Group,” he added.
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Micro Ether futures will be part of CME Group’s rising providing of crypto derivatives, together with Micro Bitcoin futures, which began buying and selling in Could 2021. With every contract price 0.1 BTC, the corporate has traded over 2.7 million contracts to this point. The unique and the primary Bitcoin futures contract by CME was launched on Dec. 17, 2017.