CME Group is ready to increase its Bitcoin and Ethereum product lineup from Might 22 – topic to regulatory approval.
The world’s largest derivatives trade mentioned its new choices would introduce shorter-term cryptocurrency choices.
At present, CME Group provides commonplace and micro BTC and ETH contracts. With the extra product providing, ten new weekly choices might be out there – representing contracts expiring Monday via Friday for each cryptocurrencies.
Equally, 4 further micro contracts for BTC and ETH might be provided for Tuesday and Thursday expiry.
Bitcoin and Ethereum exercise on CME Group spikes
CME Group’s International Head of Cryptocurrency Merchandise, Giovanni Vicioso, mentioned the brand new contracts give merchants “higher precision and flexibility in managing short-term bitcoin and ether worth danger.”
The corporate mentioned its Q1 2023 common Bitcoin and Ethereum notional every day quantity exceeded $3 billion – denoting an uptick in demand for its cryptocurrency derivatives merchandise.
Bitcoin futures and choices common every day quantity exceeded 11,500 contracts throughout the interval. On the similar time, open curiosity (OI) averaged 24,094 contracts – a brand new document.
The story was a lot the identical with Ethereum merchandise, having hit a document 311 choices contracts traded on Feb. 22, with OI peaking at 1,800 contracts on March 24.
The put up CME Group expands its Bitcoin, Ethereum derivatives product suite appeared first on CryptoSlate.
