CME Group expands its Bitcoin, Ethereum derivatives product suite

CME Group Subject to regulatory approval, we plan to expand our Bitcoin and Ethereum product lineup starting May 22nd.

World’s largest derivatives exchange Said Its new product introduces short-term cryptocurrency options.

Currently, CME Group offers standard and micro BTC and ETH contracts. Additional product offerings make 10 new weekly options available. This represents a contract that expires Monday through Friday for both cryptocurrencies.

Similarly, Tuesday and Thursday maturities will offer 4 additional microcontracts in BTC and ETH.

Bitcoin and Ethereum Activity on CME Group Spike

Global Head of Cryptocurrency Products at CME Group, Giovanni Vichososaid the new contract will give traders “more precision and versatility when managing short-term Bitcoin and Ethereum price risk.”

The firm said the average daily notional trading volume for Bitcoin and Ethereum exceeded $3 billion in the first quarter of 2023, indicating a growing demand for crypto derivatives products. I’m here.

Bitcoin futures and options average daily volume surpassed 11,500 contracts over the period. At the same time, Open Interest (OI) averaged 24,094 contracts, a new record.

The story is much the same for Ethereum products, with 311 option contracts traded on February 22nd hitting a record high and OI peaking at 1,800 contracts on March 24th.

Post CME Group Expands Bitcoin, Ethereum Derivatives Product Suite First Appears on CryptoSlate

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