According to the announcement posted by the Chicago Mercantile Exchange Group (CME Group) this Monday, Ether (ETH) futures contracts valued at 0.1 ETH have now officially launched within the exchange, providing trades and institutions a brand new avenue to gain ETH exposure.
The announcement further noted that the cash-settled micro ETH derivatives offering would trade under the METZ1 Globex code and join the exchange’s other derivatives products, including its micro Bitcoin (BTC) variant. Notably, CME Group’s launching of micro ETH futures offering came only seven months after releasing the aforementioned BTC variant, marking the second micro-crypto product the exchange has released this 2021.
Alternative investment products and equity index chief at CME Group, Tim McCourt, stated that the launch of micro ETH futures highlights the significant growth and liquidity the exchange has accumulated in its crypto options and futures offering for the past months. In its most recent statistical report, CME Group posted an impressive daily trading volume for its micro BTC futures product of 43,286 – more than tripling its recorded numbers for its BTC futures. The exchange now hopes that its latest offering would fair similar or better than this.
ETH’s global market price hovers above the $4,000 mark as of press time.