CME introduces micro-ether futures, while ETH is ATH over 4.4K. approximates

The Chicago Mercantile Exchange (CME), one of the world’s largest derivatives markets, is further expanding its range of crypto derivatives with a new product based on ether (ETH).

 Chicago Mercantile Exchange announced Tuesday that it plans to launch a 0.1 ETH micro-ether futures contract that will offer institutional and individual traders a new type of ether exposure.

The new product will be the fourth crypto-derivative product ever launched by CME and is expected to launch on December 6, 2021, subject to regulatory approval.

The news comes as ether approaches an all-time high after the cryptocurrency hit an all-time high on October 29, hitting $ 4,460. At the time of writing, the second largest cryptocurrency by market cap is trading at $ 4,438, according to data from cryptocurrency tracking website CoinGecko.

Tim McCourt, CME Group Global Head of Alternative Investment Products, noted that the introduction of the micro ETH futures contract aims to bring more investors to the market by enabling investment.

“Since the introduction of the ether futures in February, we’ve seen steady growth in the liquidity of these contracts, especially among institutional traders,” said McCourt.

“Micro-Ether-Futures will provide more choice and precision in the transparent, regulated and efficient trading of Ether-Futures with the CME Group,” he added.

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Micro-Ether Futures will join CME Group’s growing offering of crypto derivative products, including Micro-Bitcoin Futures, which will be traded in May 2021. With every contract worth 0.1 BTC, the company has traded over 2.7 million contracts to date. CME’s original and first Bitcoin futures were launched on December 17, 2017.