CME Group is set to expand its Bitcoin and Ethereum product line starting May 22, subject to regulatory approval.
The world’s largest derivatives exchange saying its new offerings would introduce short-term cryptocurrency options.
CME Group currently offers standard and micro BTC and ETH contracts. With the additional product offering, ten new weekly options will become available, representing contracts that expire Monday through Friday for both cryptocurrencies.
Similarly, four additional micro contracts will be offered for BTC and ETH expiring on Tuesday and Thursday.
Bitcoin and Ethereum Activity at CME Group Spikes
CME Group Global Director of Cryptocurrency Products, John ViciousHe said the new contracts give traders “greater precision and versatility in managing short-term bitcoin and ether price risk.”
The company said that its average nominal daily volume for Bitcoin and Ethereum in the first quarter of 2023 exceeded $3 billion, denoting an increase in demand for its cryptocurrency derivative products.
Average daily volume for Bitcoin futures and options exceeded 11,500 contracts during the period. At the same time, open interest (OI) averaged 24,094 contracts, a new record.
The story was much the same with Ethereum products, having reached a record 311 options contracts traded on February 22, with OI peaking at 1,800 contracts on March 24.
Post CME Group Expands Its Suite of Bitcoin Derivatives and Ethereum Appeared First on CryptoSlate.
