Has CME Begun Trading In Micro Ether Futures?

Has CME Begun Trading In Micro Ether Futures?

2021-12-07 | Daniel Smith

Has CME Begun Trading In Micro Ether Futures?

The CME Group has unveiled a novel Ethereum futures product. According to a news statement issued recently on 6th December, the Chicago-based CME Group has launched cash-settled micro Ether futures. The product was first revealed in early November. The contract's size is 1/10 of 1 ETH, which is equivalent to $405 at the time of publication. It is currently accessible for trading under the ticker MET. According to CME's Tim McCourt, the introduction of micro futures will help individual and institutional traders to implement their trading plans more efficiently: As investor demand for digital assets grows, we are excited to now provide our customers with access to Micro Ether futures as a cost-effective, effective, and transparent alternative to purchase cryptocurrencies and manage Ether exposure. During the current downturn, Ethereum outperformed Bitcoin significantly, resurrecting the "flippening" story. Over the last 24 hours, the price of ETH has increased by 226 percent in comparison to the largest cryptocurrency. In February, CME Group introduced Ether futures. While many feared a gloomy situation, the introduction of the regulated product actually accelerated the surge. CME is the fourth-largest exchange by Ethereum futures open interest, according to Coinglass statistics (behind only FTX, Binance and Bitfinex).

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