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CME Announces Micro Ether Futures as ETH Price Hits Record Peak

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Tue, 11/02/2021 - 12:41
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Alex Dovbnya
CME has announced that it will launch Micro Ether futures in early December
CME Announces Micro Ether Futures as ETH Price Hits Record Peak
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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.

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Ether is up 489%, significantly outperforming Bitcoin.

CME 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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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.