- CME has announced the expansion of its list of cryptocurrency products.
- The platform plans to add microfutures on bitcoin and Ethereum in euros.
- These are contracts for 1/10 of the underlying asset.
- If they are approved, trading on the positions will begin on March 18.
The Chicago Mercantile Exchange (CME) plans to launch euro-denominated bitcoin and Ethereum micro futures. Trading in these positions is expected to begin on March 18, 2024.
“Investors around the world are looking for more precise risk management tools as interest in these assets grows. The launch of these contracts will provide our clients with more options,” said Giovanni Vicioso, global head of cryptocurrency products at CME Group.
The size of the contracts in both cases is 1/10th of the underlying assets – 0.1 BTC and 0.1 ETH respectively. The infrastructure will be provided by TP provider ICAP.
The press release states that the exchange has not yet received regulatory approval to launch these products.
CME launched bitcoin and Ethereum futures in euros in August 2022. Microcontracts for both of these crypto assets appeared on the platform in 2021.
The exchange announced the launch of the new products amid rising bitcoin and Ethereum prices. The former has crossed the $52,000 mark, while the latter has crossed $3,000. Both assets are trying to consolidate at or above this level.
This was accompanied by a high demand for derivative contracts. Earlier we reported that open interest in bitcoin futures reached a high from November 2021.
