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CME Group to Launch Options on Ethereum Futures Ahead of the Merge

Jimmy Khan

Aug 19, 2022 14:51

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Next month, the Chicago-based derivatives market CME Group intends to begin offering options for its Ethereum (ETH) futures contracts.


The business said it intends to provide the alternatives, each of which would cost 50 ETH, pending to regulatory approval, only days before the much-anticipated Merge update to the Ethereum network takes place.

Futures Contracts for ETH

Following regulatory clearance, the futures options are anticipated to begin trading on September 12 of this year. More precisely, since Ethereum options contracts function as contracts to purchase or sell ETH at a later time, they let investors wager on the price of ETH.


Overall, Ethereum futures are often used as a hedge against fluctuations in the price of ETH, the second-largest cryptocurrency in the world. Additionally, investors will have the opportunity to make predictions about the underlying trend of the asset and buy if they believe prices will increase or sell if they believe prices will decline. The CME CF Ether Dollar Reference Rate will be followed by the new contracts.


The CME Group, which comprises of the Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, and the Commodity Exchange, aims to sell options on Ethereum futures in addition to currently offering micro-sized options contracts and trading products for Bitcoin (BTC) options. The amount of the micro Bitcoin and Ethereum options is 10% of a BTC or ETH token, whereas the size of a Bitcoin futures contract is 5 BTC.


Trading in futures and options on futures is available via the CME Globex platform, trading in fixed income is available through BrokerTec, and trading in foreign currency is available through the EBS platform.

Growth in Trading Volume

The CME Group, which offers customers the ability to trade futures, options, and cash, stated that recent growth in its conventional and micro-sized Ether futures contracts has been tremendous. In fact, between June and July of this year, the average daily trading volume of ETH futures jumped by 7% while the price of micro ETH futures increased by 41%.


Furthermore, the company boasts that it operates CME Clearing, one of the top central counterparty clearing providers in the world, and that it offers the broadest range of global benchmark products across all significant asset classes based on interest rates, equity indices, foreign exchange, and agricultural products.


Tim McCourt, the organization's Global Head of Equity and FX Products, said that CME Group had transacted more than 1.8 million contracts so far. McCourt said, "Due to the imminent Ethereum Merge, the company anticipates seeing strong demand in the new options contracts."


McCourt further suggested that the rise in trade volume may be related to the Ethereum blockchain's impending switch to a proof-of-stake (PoS) consensus method.

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