CME Group premiers ETH futures options trading as the world braces for The Merge

CME Group premiers ETH futures options trading as the world braces for The Merge

The new offering fits in with the variety of crypto-based products the major derivatives marketplace has developed since launching its pioneering BTC futures contracts in 2017.

Derivatives marketplace Chicago Mercantile Exchange Group (CME Group) announced the launch of options trading for its Ether (ETH) futures products Monday — the same week as the expected Ethereum Merge.

The launch of the new futures contract is “well timed,” CME Group global head of equity and FX products Tim McCourt said in a statement. He not:

CME Group introduced a BTC options trading product in January 2020. CME launched micro Ether futures contracts in December 2021 and in March 2022 launched options contracts for its existing micro BTC and ETH futures at 10% of the size of the tokens. It also offers euro-denominated BTC and ETH futures.

Ethereum developers have confirmed that the Ethereum blockchain is ready for “The Merge,” during which it will transition from a proof-of-work to a proof-of-stake consensus mechanism. The Merge is expected to be completed on Sept. 15.

At the time of writing, ETH is trading at $1,715, down 3.23% in 24 hours and down 11.14% in the last month. Anticipation of The Merge and the release of August U.S. Consumer Price Index (CPI) data Sept. 15 could lead to greater price instability.

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