With more and more investors showing interest in Ethereum, Chicago Mercantile Group (CME) has announced that it will launch a new Ethereum (ETH)-based product.
The product offering, which is one-tenth the size of an ETH, aims to provide an efficient and cost-effective way for retail and institutional players to trade Ethereum derivatives. The announcement came at a time when Ethereum (ETH) was trading at all-time highs above $4,600.
The world’s second-largest cryptocurrency recovered strongly last month and entered a new price discovery territory. Earlier this year, CME Group launched the first Ether Futures in the market. Now, Micro Ether futures are expected to launch on December 6.
Tim McCourt, Head of Global Stock Index and Alternative Investment Products at CME Group, said:
“Since the launch of Ether futures in February, we have seen steady growth, especially among institutional traders. At the same time, the price of ETH has more than doubled since the introduction of these contracts, creating a micro-scale demand to make this market even more accessible to a wider audience. Micro Ether futures will offer greater choice and precision in how they trade Ether futures at CME Group in a transparent, orderly and efficient manner.”
Previously, CME Group also launched micro Bitcoin futures in May. This derivative product has traded over 2.7 million contracts to date.