By Alicia Maher
Reports that the CME Group, which is located in Chicago, revealed on December 6 that it has created micro-Ethereum futures contracts that are paid in cash.
According to the product’s official website, the product was first made accessible to the general public in early November of this year and has since been in production. As of the time of publication, the contract’s value is one tenth of an ether, which is equal to $405 at the current exchange rate.
Purchases and transactions in the company’s stock on the New York Stock Exchange (NYSE), where it trades under the ticker symbol MET, are now available.
According to Tim McCourt of the CME Group, since micro futures will be available for trading, both individual traders and institutional investors will be able to execute their trading plans more successfully.
Following The Introduction
As a consequence, the introduction of Micro Ether futures has resulted in a cost-effective, efficient, and transparent method of gaining access to digital currencies, while also allowing investors to manage the risk associated with the cryptocurrency that is being traded.
In recent years, micro ether futures have gained in favor among investors as a cost-effective, efficient, and transparent means of getting access to cryptocurrencies while also limiting one’s exposure to the underlying asset of the cryptocurrency.
According To Study
Due to Bitcoin’s outperformance in the current bear market, there has been renewed discussion regarding whether the market has been “flippening” ETH’s price has increased by 226% in the last 24 hours when compared to bitcoin’s price, according to a recent study. Bitcoin was the most valued cryptocurrency over the previous 24 hours.
Following the introduction of the first Ethereum futures contracts earlier this year, CME Group made a fresh set of Ethereum futures contracts accessible in February. The launch of a regulated product, contrary to popular assumption, did, in fact, lead to an acceleration of the positive trend by a significant number of steps as a consequence of the product’s entry into the market.
In terms of open interest in Ethereum futures, according to data given by Coinglass, the CME Group ranks fourth among the most active exchanges, after the CBOE and the CBOE & Company. The CME Group is ranked fourth among the most active exchanges in terms of open interest in Bitcoin futures, according to the most recent data available (behind only FTX, Binance and Bitfinex).