CME adds Ethereum Euro futures as bundling strategies

Today, CME Group launched Euro-dominated Bitcoin and Ethereum futures contracts in the derivatives market.

The new product will complement its dollar-denominated cryptocurrency counterparts with a size of five bitcoin and 50 ethereum per contract, the company said. He said In its announcement on Monday. CME Group is the world’s largest derivatives exchange.

In derivatives, a “futures contract” is a type of contract where an investor must buy or sell the underlying asset at a certain price on the expiration date.

“The launch of these new futures contracts builds on the strong growth and deep liquidity we have seen in existing US dollar-denominated Bitcoin and Ether futures,” said Tim McCourt, global head of equity and currency products at CME Group.

The crypto derivatives market is huge: $174 billion of contracts have been traded on exchanges in the past 24 hours, according to CoinGecko.

The announcement shows that there is still a lot of interest in the crypto market – especially with an Ethereum upgrade around the corner.

Earlier this month, the Chicago-based derivatives exchange most dangerous Its plan to launch options on Ethereum futures on September 12 – just days ahead of schedule join together.

The Ethereum merger is the cryptocurrency’s famous transition from Proof of Work to Proof of Stake, which is expected to make its network faster, more scalable, and more energy efficient.

Ethereum developers last week He said In an official announcement that the transition to proof of stake will take place between September 10-20.

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