- The new product will be launched on the market on July 31
- The company notes that it will expand the reach of the audience
- These futures allow investors to access both Ether and Bitcoin in a single trade.
Yesterday, June 29, CME Group announced launch of a new exchange product. These are ETH/BTC futures that will be released to the market at the end of next month.
The company positions this tool as a highly profitable position for beginners in the cryptocurrency segment. This is how Giovanni Vichioso, Global Head of CME Group, commented on the introduction of the product:
“Historically, bitcoin and ether are closely related to each other, however, given the difference in development trends, the current state of the market may influence one more than the other. This creates opportunities to trade on the difference in value.”
These contracts will be settled in USD based on the ratio between the market price of Ether divided by the value of Bitcoin. The listing cycle will be exactly the same as in the case of futures separately on ETH and BTC.
The CME Group notes that the new product will allow traders to access both Ethereum and Bitcoin in a single transaction. This will expand the reach of the audience and open up new opportunities for hedging risks, as well as implementing other strategies. Earlier, we reported that CME Group added futures event contracts in BTC. Learn more about this type of exchange products at the link.