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HomeBTCTop derivatives marketplace CME Group introduces Ether trading before “The Merge"

Top derivatives marketplace CME Group introduces Ether trading before “The Merge”

The world’s leading derivative marketplace, CME Group (Chicago Mercantile Exchange Group) on September 12 announced the launch of Ether options trading on Ether future products before the Ethereum merge.

Tim McCourt, CME Group equity and FX products global head said, new futures contract is “well-timed”. Tim said, “interest in the derivative of Ether is surging, as market members are expecting the Ethereum merge will possibly be a game-changing upgrade for one of the biggest cryptocurrency networks.”

On August 18, CME Group reported its desire to launch futures options. Based on the daily updated US dollar price, the contract would cost one future of Ether at 50 ether per contract.

The new contracts join the setup of existing CME group items. In December 2017, the CME launched the first futures contract of Bitcoin (BTC). 

In spite of the crypto winter, when all the prices of cryptocurrencies are depleting, derivative contracts of Bitcoin (BTC) and Ethereum (ETH) saw record-exorbitant interest in the second quarter of this current year.

In January 2020, CME Group presented the product of Bitcoin Option trading. Moreover, in December 2021 and March 2022, CME launched the futures contracts of micro Ether and options contracts of its current micro Ethereum and Bitcoin futures at 10% token size. Likewise, it also provides euro-denominated futures of Bitcoin and Ethereum.

Ethereum programmers have affirmed that the Ethereum blockchain is prepared for the merge, and during the merging process, it will change from a Proof-of-Work to a Proof-of-Stake consensus. The Merge is supposed to happen on September 15.

At publishing time, Ethereum is trading at a price of $1724 down 3.60% in the past 24 hours Expectations of The Merge and the arrival of U.S. Consumer Price Index (CPI) data of August on September 15 could bring more volatility in the price of Ethereum.

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