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CME Group Introduces Micro Ether Futures
Similar to the micro bitcoin futures launched in May, micro ether futures are 1/10 of one ETH.
The Chicago Mercantile Exchange (CME) Group, the largest U.S. derivatives exchange, has introduced micro ether (ETH) futures, its second micro-crypto product of 2021.
- Similar to the micro bitcoin futures launched in May, micro ether futures are 1/10 of one ETH.
- The exchange is looking to offer investors an efficient means of hedging their ether exposure, it said Monday.
- “The launch of micro ether futures underscores the significant growth and liquidity we have seen in our cryptocurrency futures and options,” Tim McCourt, CME Group’s global head of equity index and alternative investment products, said in an email.
- CME Group most recently reported a daily trading volume of 43,286 for its micro bitcoin futures product. That’s more than three times the 12,868 trading volume of its bitcoin futures. Trading volume on ether futures was 6,854.
Read more: How Bitcoin Set Itself Up for This Sell-Off
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UPDATE (Dec. 6, 16:41 UTC): Adds trading volumes in last bullet point.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
