The Chicago Mercantile Exchange, CME is moving to expand its crypto derivatives offerings. Then, launch Micro Ether futures on Dec. 6, pending regulatory review.
Furthermore, Micro Ether futures will be at 1/10th of one Ether. Which of course, permits access to a wide range of investors as Ether prices spikes.
Notably, Ether hits an all-time high of US$$4,638.45 earlier today, according to CoinMarketCap data.
So, The new contract will be in cash according to the CME CF Ether-Dollar Reference Rate. Of course, which works as a daily reference rate of the U.S. dollar price of Ether.
“Since the launch of Ether futures in February,..”
“we have seen steady growth in liquidity in these contracts, especially among institutional traders,”
Then, Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products notes.
“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.”
Lastly, The CME group has a number of crypto derivative products which includes Bitcoin and Ether futures.
More so, More than 675,500 CME Ether futures contracts is trading since their launch in February.
Additionally, CME also launches a Micro Bitcoin futures product in May, with over 2.7 million contracts transaction till date.
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