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CME Group Adds to Crypto Offerings With Ether Options
The exchange will allow traders to make bets and manage risk ahead of the Ethereum Merge.
Derivatives marketplace Chicago Mercantile Exchange (CME) plans to start offering options for ether (ETH) futures on Sept. 12, the company said in a statement Thursday.
The offering will add to CME's existing crypto products, which include bitcoin and ether futures, and bitcoin options.
STORY CONTINUES BELOW
The overwhelming majority of ether options trading occurs over-the-counter, and activity has surged ahead of the Ethereum blockchain's software update known as the Merge. CME’s expected launch comes shortly before the Merge is tentatively scheduled to go live, either on Sept. 15, 16 or 20.
"As we approach the highly anticipated Ethereum Merge next month, we continue to see market participants turn to CME Group to manage ether price risk," Tim McCourt, global head of equity and foreign-exchange products at CME Group, said in the statement.
"Our new ether options will offer a wide array of clients greater flexibility and added precision to manage their ether exposure ahead of market moving events," he added.
Read more: What Is the Ethereum Merge?
Michael Bellusci
Michael Bellusci is a former CoinDesk crypto reporter. Previously he covered stocks for Bloomberg. He has no significant crypto holdings.
