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CME Group plans to launch options on ETH futures before the merger

Published on

December 19, 2022
Read Time:1 Minute, 56 Second

Main futures market Chicago Mercantile Alternate Group plans to introduce choices buying and selling for its Ether (ETH) futures merchandise.

In an announcement Thursday, the CME Group said that, topic to regulatory evaluate, it plans to launch choices contracts for its Ether futures at a measurement of fifty ETH per contract. The futures choices, that are anticipated to start out buying and selling on September 12, observe the corporate launching micro-sized Bitcoin (BTC) and ether choices in March 2022, BTC choices buying and selling merchandise in January 2020 and a BTC futures contract in December 2017 brings to market.

Tim McCourt, International Head of Fairness and FX Merchandise at CME Group, referred to the upcoming transition of the Ethereum blockchain to proof-of-stake – often known as a merge – when asserting the ETH futures product. McCourt mentioned the group has seen a rise in buying and selling quantity and open curiosity for ETH futures and micro-sized ETH futures choices, probably in anticipation of the merger.

"Now we have [...] have seen elevated exercise in our micro ether choices in September and December, which can additionally point out that contributors are hedging danger across the proposed merger date,” McCourt mentioned in an announcement shared with Cointelegraph. “Seventy-eight % of open curiosity in micro ether choices is contained within the September and December contracts.”

On the lookout for a brand new method so as to add the flexibleness of choices to your cryptocurrency portfolio? Meet CME Group's Ether Choices launching on September twelfth. https://t.co/yHc3s6oL9h pic.twitter.com/wlKTGNyE5K

— CME Group (@CMEGroup) August 18, 2022

CME Group reported a 7% improve within the common day by day buying and selling quantity of ETH futures from June to July and a 41% improve in the identical contract quantity of micro ETH futures. Buying and selling exercise for ETH and funding autos linked to the cryptocurrency may see vital quantity forward of the merger, which core builders anticipate to happen on September 15.

Associated: CME Group plans to launch euro-denominated bitcoin and ether futures

In response to information from Cointelegraph Markets Professional, ETH is priced at $1,863 on the time of publication, having risen by 2% prior to now 24 hours. The token hit an all-time excessive of round $4,800 in November 2021.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : December 19, 2022
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