With Institutional Interest Rising for Ethereum, CME to Launch Ether Futures in February 2021
After the success of Bitcoin futures, CME is all set to list the Ether futures next year.
“Ether futures to expand CME Group’s robust crypto derivatives offering for institutional traders alongside CME Bitcoin futures,” announced CME Group on Wednesday.
One Ether futures contract on CME would represent 50 Ether, as per the product specifications, which is scheduled to go live on February 8, 2021, but “subject to regulatory approval.”
The day has already been an explosive one for the cryptocurrency market as Bitcoin finally smashed through $20,000, going as high as nearly $20,800, and starts its journey of price discovery with the sky’s the limit.
Ether was right behind the leading cryptocurrency, surging past $625 after starting the day at around $580.
While institutional investors have been showing special interest in Bitcoin as a hedge against the devaluing fiat currencies, Ether, as we reported, has also started seeing immense attraction from the institutions.
It was at the peak of the 2017 bull market, in December, that CME launched Bitcoin futures, and in 2020, it launched its bitcoin options product.
CME has been gradually increasing its market share in the Bitcoin market with the open interest surging past $1 billion, making it the largest regulated futures market.
Now, in less than two months, Ether futures would be available on the institutional investors' platform to trade.