The world’s largest futures and options exchange by daily volume, the Chicago Mercantile Exchange (CME), has announced that it will begin offering micro-BTC and micro-ETH options starting March 28, 2022.

According to a press release issued by CME Group on Tuesday, the new micro options contracts will be 1/10th the size of their respective underlying tokens and will appeal to a wide range of market participants, including institutions and retailers.

Rob Strebel, Head of Relationship Management at DRW, said that the product “will help attract new investors and grow the crypto ecosystem.”

CME has long offered BTC futures and diversified its offering to include ETH futures in March 2021. The new product offers tarders a new way to access the two major cryptocurrencies.

A futures contract is a derivative in which two participants enter into an agreement to buy or sell a specific asset (usually a commodity) at a predetermined future date and price. They are often used to hedge the price movement of the underlying asset to avoid losses due to adverse price changes.

Similarly, micro futures contracts work just like a regular futures contract; However, CME Group applies a multiplier of 1/10 of the standard contract.

These contracts provide an opportunity for long-term or short-term exposure to the underlying BTC or ETH. Contracts expire both monthly and weekly.

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