With ETH hovering at $4,000, CME Group launched micro-Ether futures

The Chicago Mercantile Exchange Group, the main derivatives market, has expanded its crypto products to include micro-Ether futures products.

In Monday’s announcement, CME Group stated that it has roll out A microether (Ethereum) The size of the futures contract is 0.1 ETH, which provides another Ether-exposed product for institutional and individual traders. Cash-settled micro ETH derivative products are traded under the Globex code METZ1, and are added to the exchange’s encrypted derivative products, including micro Bitcoin (Bitcoin) Futures, Bitcoin futures, Bitcoin futures options and ether futures.

Tim McCourt, global head of alternative investment products at CME Group, said that the issuance will enable investors to “hedge their spot Ether price risk or more flexibly execute Ether trading strategies.” CME Group’s Crypto Derivatives Genesis Global Trading, one of the liquidity providers, stated that it has cooperated with crypto investment company XBTO to execute a contract for micro-ETH futures products.

“The Micro Ether futures contract meets the need for greater flexibility and more precise delta hedging,” said Joshua Lim, Director of Derivatives at Genesis.

related: Kelly Strategic Management Document for Ethereum Futures ETF

The announcement was made after the prices of ETH and many cryptocurrencies, including Bitcoin, fell sharply over the weekend.According to the data from Cointelegraph Markets ProSince it hit a record high of $4,785 on November 8, the price of ETH has fallen by more than 15%. At the time of publication, the price of the second largest cryptocurrency by market capitalization was US$4,016, a drop of more than 13% in the past 7 days.

CME Group first launched its Bitcoin futures contract during the bull market in December 2017.Exchange Micro Bitcoin futures products Launched in May, with the company report On December 2, it traded more than 3.3 million contracts.