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CME Group Launches micro BTC, ETH options
Summary: CME Group, the world’s largest derivatives marketplace, announced on Monday they launched options for Bitcoin and micro Ethereum futures, in response to growing interest in cryptocurrency exposure from institutional clients. The futures will come in the form of roughly one tenth of a full token, offering traders greater flexibility in keeping crypto exposure in their ...
CME Group, the world’s largest derivatives marketplace, announced on Monday they launched options for Bitcoin and micro Ethereum futures, in response to growing interest in cryptocurrency exposure from institutional clients.
The futures will come in the form of roughly one tenth of a full token, offering traders greater flexibility in keeping crypto exposure in their portfolios.
"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," said Tim McCourt, CME Group Global Head of Equity and FX Products.
Liquidity for the micro tokens will be provided by digital assets dealer Galaxy Digital. Galaxy is a technology driven financial services and investment management firm, providing liquidity services to several major banks offering crypto products.
"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," said Robert Bogucki, Managing Director, Global Co-head of Trading at Galaxy Digital Holdings Ltd.
The Chicago-based firm currently offers derivatives on only BTC and ETH, but they could follow other asset managers, such as Grayscale and CoinShares, in offering more tokens in the future.
Crypto derivatives are a unique and important aspect of the market, because it allows large investment houses to gain exposure into the market without directly purchasing tokens.
Today’s launch comes as the latest step in the trend of large investment houses getting involved in the crypto space. It also follows a BitPush report earlier this month, where CME group announced they would offer the derivatives at a later date.
While this is the latest in investment houses offering crypto products, it certainly will not be the last. Goldman Sachs said it will soon be offering specialized crypto derivatives, once again citing the growing interest in exposure to the space.
Author: Tyler Irvin
Tags: Bitcoin Futures,CME Group,Ethereum Futures
Link: CME Group Launches micro BTC, ETH options [Copy]
