Today, all attention is focused on bitcoin, which breaks through the magical $20,000 barrier. But for the ethereal lovers, there is also good news. Derivatives exchange CME Group today announced Ethereum Futures contracts. The product will be launched early next year. CME Group is the best known derivatives exchange in the world. Through ethereum futures, investors can speculate on the price of ethereum without actually owning the coin.
Big news for ethereal
As of February 8, 2021, investors will be able to use this new product. The futures contracts will be settled in dollars, so investors will not receive ethereal after the contract expires. According to the CME Group website, each contract stands for 50 ETH. With a rate of 500 euros per coin you end up with 25,000 euros. The futures contracts are therefore not suitable for the small investor.
CME Group sees gap in cryptomarket
Since the end of 2017, CME Group ensures that larger investors can be exposed to the price of bitcoin profit secret. And from the beginning of 2020 it is also possible to trade bitcoin options on CME Group.
These products are a great success according to Tim McCourt. McCourt is a director in the field of stock indices and alternative investment products of CME Group. According to him, this success is the reason for adding ethereum futures:
„Based on increasing customer demand and the robust growth in our bitcoin futures and options, we believe that the addition of ether futures will provide our customers with a valuable tool to trade and hedge this growing cryptocurrency“.
Ethereum responds instantly
Is it because of the announcement of CME Group, or does ethereal elevator along with the success of bitcoin? Either way, today the price of ethereal finally broke through the resistance of 500 euros. You can see that below on the price chart of BTC Direct. Unlike bitcoin, ethereal is still a long way from the absolute record. To break that record, the price must shoot through 1,187 euros.