CME Group to launch Micro Ethereum (ETH) futures

Mon 06 Dec 2021 ▪ 20h03 ▪ 3 min read — by Susan McCormack

Cryptocurrencies are gradually taking over American exchanges, which is evidenced by the number of businesses willing to launch their own crypto-based investment products.

Micro Ether (ETH) by CME Group

One of the most significant events of the autumn of 2021 was the first Bitcoin (BTC) futures ETF launch. At the same time, the US Securities and Exchange Commission (SEC) refuses to approve other types of ETFs for both Bitcoin and Ethereum, dragging out these applications. That is why no exchange-traded Ether-based fund has yet been launched in the United States.

Unlike stock exchanges, the situation for Ethereum on the Chicago Mercantile Exchange is much more positive, since today they placed the second Micro Ether (MET) futures contract.

These contracts equal to 1/10 ETH, and constitute one of the few ways to get access to this cryptocurrency through traditional finance exchanges. The crypto community has long been waiting for such contracts to launch, since they are very efficient and economical, which is especially important when working with Ethereum.

The launch is arranged by CME Group, the first company to ever launch a crypto-based investment product approved by regulatory authorities Bitcoin Futures — which offered investors secure access to the first cryptocurrency.

Tim McCourt on Micro Ether futures

Tim McCourt, Managing Director at CME Group and Global Head of Equity Products, commented on the issue, noting that the launch of a new crypto product on the commodity exchange is an important step for CME Group.

He also stressed that such investment products are one of the best ways to effective and safe crypto investments:

“Sized at one-tenth of one Ether, Micro Ether futures will provide an efficient, cost-effective way for a range of market participants — from institutions to sophisticated, active, individual traders — to hedge their spot Ether price risk or more nimbly execute Ether trading strategies, all while retaining the features and benefits of CME Group’s larger-sized Ether futures.”

Given the mushroom growth of crypto, products like new futures from CME Group are as relevant as ever. Investors have long been expecting a new Ether-based investment product. Considering the recent drop in digital asset prices its relevance might fall in the observable future, however.

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Susan McCormack

How many crypto nerds does it take to fork an altcoin? I may be a failed comedian, but crypto is no joke! I want to share my knowledge and help others to see the bright future ahead. #buybitcoin

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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