CME’s Big Announcement
On a Tuesday that traders might later reminisce about while sipping coffee and discussing market moves, the Chicago Mercantile Exchange (CME) unveiled its plans to launch a micro Ether futures contract—sized at a wee 0.1 ETH. Yes, you heard that right! Not only will this facilitate investment for those who find their wallets burdened by hefty Ether, but it also promises to add a sprinkle of excitement in the crypto derivatives garden.
Setting the Stage for Growth
Mark your calendars—December 6, 2021, is the day the futures game might just change. With the regulatory thumbs-up, this new offering aims to engage both institutional players looking to dip their toes in the Ether pool and individual investors wanting a slice of the action without selling a kidney. Tim McCourt, the global head honcho of CME Group’s alternative investment products, shared that since the inception of Ether futures back in February, the crypto-pirates have seen a steady flux of liquidity. Why? Because, apparently, $4,460 wasn’t the end of the rollercoaster ride for Ether!
A Small Investment with Big Potential
McCourt got straight to the point, expressing enthusiasm over how this micro futures contract will allow traders the ability to make smaller, yet precise, investments in the market: “Micro Ether futures will offer even more choice and precision in how they trade these contracts at CME Group.” It seems like he’s found the magic formula to attract traders of all sizes!
Crypto Family Reunion: What’s Joining the Party?
So, who else is at this crypto derivatives fiesta? Micro Bitcoin futures were launched earlier this year, and the original Bitcoin futures took a debut bow back in December 2017. Since then, the CME has facilitated a whopping 2.7 million contracts—proving there’s appetite in the market for micro-sized investments and letting retail investors feel like big shots.
The Numbers Game: A Peek at Ether’s Price
To throw some numbers into the mix, Ether recently flirted with an all-time high of $4,460—making it the second-largest cryptocurrency by market cap. As of the latest data, it’s trading around $4,438. Investors are certainly keeping their eyes peeled, counting the days until micro futures steps onto the stage.
