The Chicago Mercantile Exchange (CME) will be introducing to their clients ETH futures on February 8th 2021; subject to regulatory approval. The futures will be cash-settled and each contract will be worth 50 ETH.
CME & Crypto
The CME Group introduced Bitcoin futures at the height of the 2017 bull-run, this coincidental timing has pushed the flimsy narrative that the product’s introduction had a hand in crashing the market.
The CME has become a reliable source for institutional investors to gain exposure and trade Bitcoin futures. One of the famous names amongst their list of clients is Renaissance Technologies. The latter is the world’s top performing hedge fund with an annualised return of 66%, led by Jim Simons.
The open interest on the CME’s BTC futures has crossed the $1 billion mark in late November 2020. Now their list of products has expanded to include ETH futures as well amidst institutional interest rise in cryptocurrencies.