Trading in futures contracts will begin on December 6th. Their cost will be 0.1 ETH ($ 446 at the exchange rate on November 2)
The largest financial derivatives market CME Group announced the launch of 1/10 Ethereum futures on December 6. The cost of one futures contract will be 0.1 ETH ($ 446 at the exchange rate on November 2).
CME Group launched futures for the largest altcoin in terms of capitalization in February this year, when it was trading at $ 1.6 thousand.
On November 2, Ethereum updated its all-time high above $ 4.46 thousand, and its capitalization exceeded $ 527 billion, according to CoinGecko. Over the month, altcoin has risen in price by 32%.
Tim McCourt, head of the CME Group Equity Indices and Alternative Investment Products division, said the new instrument will be launched in response to steady growth in liquidity in cryptocurrency futures contracts.
“The price of Ethereum has more than doubled since the launch of futures and there has been a demand for smaller contracts.
This will make the market even more accessible to a wider range of participants, ”said McCourt.
In March, CME Group has reported the launch of futures on 1/10 Bitcoin. The company first provided access to Bitcoin futures contracts in 2017.
Futures is a financial derivative that is a contract to buy or sell an underlying asset on a specified date in the future, but at the current market price.
