Micro Ether futures will turn into the fourth crypto derivatives product by CME and is expected to be launched on Dec. 6.
The Chicago Mercantile Exchange (CME), one of the world’s biggest derivatives marketplaces, continues increasing its cryptocurrency derivatives choices by including a new Ether (ETH)-based product.
CME announced Tuesday that it’s planning to launch a micro Ether futures contract, sized at 0.1 ETH, enabling a new sort of Ether exposure to institutional and individual traders.
The new product will become the fourth crypto derivatives product ever launched by CME and is expected to be rolled out on Dec. 6, 2021, pending regulatory approval.
The information comes amid Ether sitting close to all-time high levels after the cryptocurrency posted its highest historic worth on Friday, reaching $4,460. At the time of writing, the second-largest cryptocurrency by market cap is trading at $4,438, based on information from cryptocurrency monitoring website CoinGecko.
Tim McCourt, CME Group World head of other funding merchandise, noted that the launch of micro ETH futures aims to deliver more buyers to the market by enabling smaller investments.
“Because the launch of Ether futures in February, we have seen regular development in liquidity in these contracts, particularly amongst institutional traders,” McCourt noted, including that ETH price has “more than doubled” since these contracts had been launched.
“Micro Ether futures will supply much more choice and precision in how they commerce Ether futures in a transparent, regulated and efficient method at CME Group,” he added.
Micro Ether future will join CME Group’s rising offering of crypto derivatives, including Micro Bitcoin futures, which began trading in May 2021. With every contract value 0.1 BTC, the corporate has traded over 2.7 million contracts up to now. The unique and primary Bitcoin futures contract by CME was launched on Dec. 17, 2017