Bybit launches quarterly Ethereum futures

The cryptocurrency exchange Bybit has launched quarterly Ethereum futures contracts. Details are outlined in the exchange’s blog.

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The instrument under the ticker ETHUSD0625 has been available in the web version of the platform since May 20. Today, May 24, the exchange added the ETHUSD0924 contract. The ticker name indicates the underlying asset and expiry date. The expiry of ETHUSD0625 will occur on June 25, and ETHUSD0924 on September 24, 2021. The quarterly futures carry no funding fee.

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“We are launching new Ethereum futures contracts amid growing retail and institutional interest in altcoins. The quarterly contracts will complement the existing perpetual contracts ETHUSD and ETHUSDT. This will significantly expand the opportunities for our traders to hedge positions or profit from Ethereum’s volatility,” said Bybit co-founder and Chief Executive Officer Ben Zhou.

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Bybit — a crypto-derivatives exchange headquartered in Singapore with registration in the Virgin Islands. The platform has been operating since 2018 and serves 1.8 million clients.

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On May 25, Bybit will launch the ByFi platform for cloud Ethereum mining. Users of the service will be able to rent hash rate for 7, 21 and 42 days. The minimum investment is $100.