Categories: Market

CME Micro Ether Futures are officially trading amid the ETH price rally

The derivatives exchange of the Chicago Mercantile Exchange Group (CME) has expanded its crypto offering with its newest product, Micro Ether Futures.

In one notification At 4:00 a.m. (UTC 9:00 p.m. on December 6), CME announced that it had launched a 0.1 ETH Micro Ether Futures contract, which will offer institutional and individual traders another product for exposure to the second largest cryptocurrency.

The offer of Micro-ETH derivatives with cash settlement is traded under the Globex METZ1 token. It currently runs on the exchange alongside other crypto derivative products, including micro-bitcoin futures, bitcoin futures, options on bitcoin futures, and ether futures.

Source: CME

Tim McCourt, global head of alternative investment products for CME Group, said the new product will enable investors to “hedge spot ether prices or implement agile ether trading strategies more quickly.”

Genesis Global Trading, one of the liquidity providers for the CME Group’s crypto derivative services, claims to have signed a contract for its Micro ETH futures product in cooperation with the investment company XBTO crypto currency. Genesis Head of Derivatives said:

“Micro-Ether-Futures meet the need for more flexibility and more precise delta hedging.”

The announcement comes after the price of ETH and many cryptocurrencies, including Bitcoin, fell significantly over the weekend. ETH price has fallen more than 15% since hitting an all-time high of $ 4,785 on November 8th. At the time of writing, the price of the second largest cryptocurrency is trading at $ 4,335, up over 4% in the past 24 hours.

Source: Coin360

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Annie

According to Cointelegraph

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.