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CME Group to Expand Crypto Derivatives Offering with New Micro Bitcoin Futures Contract, Pending Regulatory Approval
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CME Group Announces Multiple Micro E-mini Equity Index Futures Trading Volume Records
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Dec 17, 2020 08:12 GMTCrypto News
ETH hit a new high of 2020, however, the bullish potential is not exhausted yet.
A move above $780 will open up the way to $1,000.
ETH hit a new record for 2020 and reached the highest price since May 2018 at $658 fuelled by ETH futures launch on CME and a strong Bitcoin rally to a new all-time high.
At the time of writing, Ethereum (ETH) is trading at $645. The coin has gained over 10% on a day-to-day basis. The second-largest digital asset with the current market capitalization of $73 billion registered an average daily trading volume of $17 billion.
ETH lived through a stellar November and may be in for a strong December as fundamental and on-chain metrics imply that the bullish momentum is not over yet.
CME Group Will Offer Ether Futures Beginning February 8th
CME Group intends to launch Ether futures starting February 8, 2021, pending necessary regulatory review.
CME states that the new contract will be cash-settled, based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of Ether.
Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products, said that based on demand and growth of their Bitcoin futures and options, they believe Ether futures will be a valuable tool for their clients interesting in trading or hedging crypto.
“Ethereum is the second-largest cryptocurrency by both market capitalization and daily volume. The introduction of listed Ether futures to our time-tested, regulated CME Group derivatives marketplace will help to create a forward curve so Ethereum market participants can better manage price risk.”