The Chicago Mercantile Exchange (CME) will launch micro Ethereum futures, according to a press release.
Trading of the new derivatives will begin on December 6. Each contract will be one-tenth of an ETH.
“Since the launch of Ethereum futures in February, we have observed a steady growth in liquidity in these contracts, especially among institutional traders,” said Tim McCourt, Managing Director of CME Group. “Meanwhile, the price of Ether futures has more than doubled since the instrument’s launch. This has created demand for micro contracts, making the market more accessible to a broad range of participants.”
As with other crypto derivatives on CME, Ethereum micro futures will be cash-settled, not requiring physical delivery.
In the wake of the news, ETH hit an all-time high of $4,477.46 in the ETH/USDT pair on Binance.
Over the last 24 hours, Ethereum rose 2.6%, and its market cap reached $526.4 billion, according to CoinGecko. In May began trading micro Bitcoin futures.
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