The large derivatives market Chicago Mercantile Exchange Group will launch options trading on microbitcoin and ether futures products.
CME Group said Tuesday that it plans to launch options contracts for its microbitcoin (BTC) futures and ether (ETH) futures contracts, subject to regulatory review, which will be 10% of the volume of the tokens involved. The options futures, which is expected to begin trading on March 28, comes more than two years after the company launched its BTC options trading product in January 2020 and more than four years after the group launched its first bitcoin futures contract in December 2017.
“Based on the strength and liquidity of the underlying contracts, our micro-options will enable traders of all sizes to effectively secure market-changing events with greater precision and flexibility, or adjust their positions in the cryptocurrency market,” CME Group said. world leading. Stocks and Foreign Exchange Products, Tim McCourt.
The volume of Micro Ether futures, which CME launched in December 2021, is 0.1 ETH, while Bitcoin futures are 0.1 BTC and have been trading since May 2021. According to CME Group, the minimum block for options is 10 mini BTC contracts and 100 for micro ETH. Genesis Global Trading, Cumberland and Akuna Capital are expected to provide liquidity to crypto investment vehicles.
Related Topics: CME Group Offers Microbitcoin Futures
The announcement came after the bitcoin price surged more than 15% from $38,000 to a 7-day high of $44,816. According to data from Cointelegraph Markets Pro, the price of ETH saw a similar increase, rising to a two-week high above $3,000. The price action may be in part due to the economic consequences of the war in Ukraine, which has led to speculation that the Russian government may try to use the digital assets to circumvent sanctions.
