The Chicago-based Chicago Mercantile Exchange, the largest futures exchange in the world, has announced the launch of micro Ether futures in a Nov. 2 press release.
The new derivatives product will become available for trading on Dec. 6.
A single micro Ether futures contract is worth 0.1 ETH, which is about $443 at press time.
CME launched regulated Ether futures in February when Ether was trading at $1,669.
Managing director Tim McCourt says that there has been "steady growth" in liquidity, which has been attributed to strong institutional interest:
Since the launch of Ether futures in February, we have seen steady growth in liquidity in these contracts, especially among institutional traders.
Earlier today, the second-largest cryptocurrency hit a new all-time high of $4,477 on the Binance exchange, extending its streak of stellar gains in the fourth quarter.
Alex DovbnyaCME made a foray into the cryptocurrency market with the launch of Bitcoin futures in late 2017. In late March, the Chicago-based exchange also announced micro Bitcoin futures that went live in early May.
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