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Micro Ether Futures Start Trading on CME

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Mon, 12/06/2021 - 15:59
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Alex Dovbnya
CME Group has launched a new Ethereum futures product
Micro Ether Futures Start Trading on CME
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Chicago-based CME Group has launched cash-settled micro Ether futures, according to a Dec. 6 press release.

The product was originally announced in early November. The size of the contract is 1/10 of 1 ETH, which is equivalent to $405 at press time.

It is now available for trading under the MET ticker.

CME's Tim McCourt says that the launch of micro futures will allow individual traders and institutional traders to execute their trading strategies in a more efficient manner:

As investor demand for digital assets continues to grow, we are pleased to now offer our clients access to Micro Ether futures as a cost-effective, efficient and transparent way to access cryptocurrency and manage Ether exposure.

Ethereum greatly outperformed Bitcoin during the recent crash, reviving the "flippening" narrative.

Related
JPMorgan Claims Institutions Are Ditching Bitcoin for Ether
The ETH price is up 226% against the largest cryptocurrency over the past 24 hours.

CME Group launched Ether futures in February. While many predicted a bearish scenario to play out, the introduction of the regulated product actually set the rally into a higher gear.

According to Coinglass data, CME is the fourth-largest exchange by Ethereum futures open interest (behind only FTX, Binance and Bitfinex).

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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.