CME Group plans to broaden its Bitcoin and Ethereum product line as of Could 22 – topic to regulatory approval.
The world’s largest derivatives change stated its new providing will introduce short-term cryptocurrency choices.
Presently, CME Group provides normal and micro BTC and ETH contracts. With the extra product providing, ten new weekly choices will likely be obtainable – representing contracts that expire from Monday to Friday for each cryptocurrencies.
Equally, 4 further micro contracts for BTC and ETH will likely be supplied for Tuesday and Thursday.
Bitcoin and Ethereum exercise on CME Group spikes
CME Group’s International Head of Cryptocurrency Merchandise, Giovanni Viciosostated the brand new contracts give merchants “higher precision and flexibility in managing short-term bitcoin and ether value danger.”
The corporate stated its common nominal every day quantity of Bitcoin and Ethereum exceeded $3 billion within the first quarter of 2023 – indicating a surge in demand for cryptocurrency derivatives.
The common every day quantity of bitcoin futures and choices exceeded 11,500 contracts throughout this era. On the similar time, open curiosity (OI) averaged 24,094 contracts – a brand new report.
The story was a lot the identical with Ethereum merchandise, which reached a report 311 choices contracts traded on February 22, and OI reached a peak of 1,800 contracts on March 24.
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