• CME launches micro Ether futures as ETH approaches its all-time high of $4.4K

  • CME’s fourth cryptocurrency derivatives product, Micro Ether futures, is set to launch on December 6.

    The Chicago Mercantile Exchange (CME), one of the world’s largest derivatives marketplaces, has added a new Ether (ETH)-based product to its cryptocurrency derivatives offering.

    CME announced on Tuesday that it plans to launch a 0.1 ETH micro Ether futures contract, providing institutional and individual traders with a new type of Ether exposure.

    The new product will be CME’s fourth crypto derivatives product, and it is expected to go live on December 6, 2021, pending regulatory approval.

    The announcement comes as Ether is nearing all-time highs, having reached its highest historical price of $4,460 on Friday. According to cryptocurrency tracking website CoinGecko, the second-largest cryptocurrency by market cap is currently trading at $4,438 at the time of writing.

    According to Tim McCourt, CME Group Global head of alternative investment products, the introduction of micro ETH futures aims to attract more investors to the market by allowing for smaller investments.

    “Since the launch of Ether futures in February, we have seen steady growth in liquidity in these contracts, particularly among institutional traders,” McCourt said, noting that the price of ETH has “more than doubled” since these contracts were introduced.

    “Micro Ether futures will provide even more choice and precision in how CME Group trades Ether futures in a transparent, regulated, and efficient manner,” he added.

    Micro Ether futures will be added to CME Group’s growing portfolio of crypto derivatives, which already includes Micro Bitcoin futures, which began trading in May 2021. So far, the company has traded over 2.7 million contracts, each worth 0.1 BTC. On December 17, 2017, the CME launched the first Bitcoin futures contract.

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