CME Formally Launches Ether Futures

Micro Ether futures have started trading on CME Group, further expanding the Merc’s suite of cryptocurrency derivatives offerings, and marking its second micro cryptocurrency product this year.

“The launch of Micro Ether futures underscores the significant growth and liquidity we have seen in our cryptocurrency futures and options,” says Tim McCourt, CME Group global head of equity index and alternative investment products. “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.”

The new futures are cash-settled, based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the dollar price of Ether. Micro Ether futures are listed on and subject to the rules of CME.

“The range of futures products that CME Group offers enable our active trader and institutional investor clients to take advantage of trading opportunities while minimizing price risk across markets,” says Steve Sanders, EVP of marketing and product development at Interactive Brokers. “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.”

Bob Fitzsimmons, EVP at Wedbush Securities, adds, “Micro Ether futures is a timely example of CME Group providing product to the new retail market participants we have witnessed this past year, while also providing institutional asset managers more tools to track performance.”