CME Group announces Ethereum futures product
CME Group will list an Ethereum (ETH) futures product next year, the firm said Wednesday.
CME Group, which gate-crashed the crypto derivatives world with a bitcoin futures contract at the height of the 2017 cycle, said on Wednesday — as bitcoin topped $20,000 that it would launch futures tied to Ethereum.
The product is coming to market February 8.
“Building on the success of Bitcoin futures and options, CME Group will add Ether futures to the cryptocurrency risk-management solutions available to trade in February,” the firm said.
Since 2017, CME Group has built a sizable market for bitcoin futures. As per data from The Block, open interest in its bitcoin futures contract stood at over $1 billion at last check—making it one of the larger futures markets in crypto. As noted by my colleague Ryan Todd, CME’s bitcoin futures market is a good proxy for institutional interest in bitcoin given firm’s can link up to the market much in the same way as they can to CME’s products in traditional derivatives.
At the beginning of 2020, the firm launched its bitcoin options product.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Frank Chaparro
