Bitcoin News and Finance
Derivatives Exchange Giant CME Group Announces Micro Ethereum Futures Launch Skip to main content

Derivatives Exchange Giant CME Group Announces Micro Ethereum Futures Launch

Derivatives Exchange Giant CME Group Announces Micro Ethereum Futures Launch

On Tuesday, the world’s largest financial derivatives exchange, Chicago Mercantile Exchange (CME) Group, announced the upcoming launch of ethereum-based micro futures slated to be listed on December 6. The launch follows CME Group’s bitcoin micro futures listing in May, which saw 100,000 micro bitcoin futures traded during the first six days after launch.

CME to Launch Micro Ether Futures Pending Regulatory Approval

CME Group announced on Tuesday that the company plans to launch micro ether futures on December 6, “pending regulatory review.” According to the CME announcement, each share will account for one-tenth of one ether.

“Micro ether futures will provide an efficient, cost-effective way for a range of market participants – from institutions to sophisticated, active, individual traders – to hedge their spot ether price risk or more nimbly execute ether trading strategies, all while retaining the features and benefits of CME Group’s larger-sized ether futures,” the announcement explains.

For quite some time now, the derivatives exchange has offered bitcoin (BTC) and ethereum (ETH) futures that account for larger quantities of each crypto asset. In terms of open interest (OI), CME Group’s ether futures account for 8.83% of all the derivatives exchange OI.

Micro-Sized Contracts Make Investment Products ‘Accessible to a Broader Range of Participants’

Six months ago, CME Group launched micro bitcoin futures and the exchange witnessed 100,000 micro bitcoin futures traded during the first six days after launch. By the end of June, CME Group’s micro BTC futures had reached 1 million contracts swapped.

“Since the launch of ether futures in February, we have seen steady growth in liquidity in these contracts, especially among institutional traders,” Tim McCourt, CME Group’s global head of Equity Index and Alternative Investment Products said. “At the same time, the price of ether has more than doubled since these contracts were introduced, creating demand for a micro-sized contract to make this market even more accessible to a broader range of participants,” McCourt added.

The CME Group executive continued:

Micro ether futures will offer even more choice and precision in how they trade ether futures in a transparent, regulated, and efficient manner at CME Group.

As of November, CME Group’s micro bitcoin futures have traded 2.7 million contracts since May. In terms of ether futures, 675,500 ethereum futures contracts have been settled on CME, which is equivalent to about 33.8 million ethereum (ETH). CME Group details that it offers more than 20 micro products and since their inception, over 1 billion contracts have been settled to date.

Meanwhile, after CME Group announced the micro futures product, ethereum (ETH) reached a new all-time high (ATH) at $4,500 per unit on Tuesday. Ethereum has a market valuation of around $529 billion at the time of writing.

What do you think about CME Group introducing micro ether futures? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory