CME Group is about to broaden its Bitcoin and Ethereum product lineup from Might 22 – topic to regulatory approval.
The world’s largest derivatives alternate mentioned its new choices would introduce shorter-term cryptocurrency choices.
At present, CME Group gives customary and micro BTC and ETH contracts. With the extra product providing, ten new weekly choices shall be out there – representing contracts expiring Monday by means of Friday for each cryptocurrencies.
Equally, 4 extra micro contracts for BTC and ETH shall be provided for Tuesday and Thursday expiry.
Bitcoin and Ethereum exercise on CME Group spikes
CME Group’s World Head of Cryptocurrency Merchandise, Giovanni Vicioso, mentioned the brand new contracts give merchants “better 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 identical time, open curiosity (OI) averaged 24,094 contracts – a brand new file.
The story was a lot the identical with Ethereum merchandise, having hit a file 311 choices contracts traded on Feb. 22, with OI peaking at 1,800 contracts on March 24.
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