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CME Group launches Micro Bitcoin and Ether futures

CME Group launches Micro Bitcoin and Ether futures

Last updated 29th Jun 2022
Disclosure
  • Futures options on Micro Bitcoin and Micro Ether will complement the group's other Micro products
  • They have traded more than 1.2 billion contracts collectively since their launch

Leading global derivatives marketplace CME Group launched options on Micro Bitcoin and Micro Ether futures today to continue expanding its suite of cryptocurrency derivatives offerings, Bankless Times learned from a press release.

Options to complement other Micro products

Futures options on Micro Bitcoin and Micro Ether will complement the group's diverse range of Micro products, whose number exceeds 20. They have traded more than 1.2 billion contracts collectively since their launch.

Robert Bogucki, Managing Director, Global Co-head of Trading at Galaxy Digital Holdings Ltd commented:

CME Group Micro Bitcoin and Micro Ether options are an important step in the development of a thriving marketplace for institutions and sophisticated investors who want crypto exposure in a regulated environment. The smaller contract sizes will give investors and traders greater flexibility in managing their exposure to the two biggest cryptocurrencies in the world, opening the market up to new participants. Galaxy Digital is excited to act as a liquidity provider for these options and other CME Group cryptocurrency products.

Tim McCourt, CME Group Global Head of Equity and FX Products noted:

The launch of these micro-sized options builds on the significant growth and liquidity we have seen in our Micro Bitcoin and Micro Ether futures. Sized at one-tenth of their respective underlying tokens in size, these contracts will offer a wide range of market participants – from institutions to sophisticated, active, individual traders – greater flexibility and precision to manage their exposure to the top two cryptocurrencies by market capitalization.

Derek Devens, Senior Portfolio Manager, Option Group, at Neuberger Berman said:

We are excited for CME Group's new Micro Cryptocurrency options offering as it will better align the listed cryptocurrency options market with the average crypto investor's exposure. We expect the pioneering exchange-traded, centrally cleared offering will appeal to over-the-counter cryptocurrency options market participants and facilitate increased market liquidity and price stability across cryptocurrency futures and options in U.S. listed markets. CME Group's continued innovations represent an essential step towards building an enduring cryptocurrency ecosystem.

Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers added:

We continue to see interest in cryptocurrency exposure from our active trader and institutional investor clients. CME Group's Micro Bitcoin and Micro Ether options will certainly benefit our clients seeking enhanced flexibility to participate in cryptocurrency markets with less upfront cost, and we are excited to add these offerings to the wide range of global products currently available on our platform.

About CME Group

CME Group is a global leader in derivatives, enabling clients to trade options, futures, cash and OTC markets, analyze data, and optimize portfolios. It empowers market players all over the world to manage risk and capture opportunities effectively.

Daniela Kirova

Daniela Kirova

Daniela is a writer at Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. She has over 15 years of experience as a writer, having ghostwritten for several online publications in the financial sector.