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CME Group Announces Plans to Launch ETH to BTC Ratio Futures
The futures will be cash-settled, the derivatives exchange said.
Derivatives exchange CME Group plans to launch ether/bitcoin (ETH/BTC) ratio futures on July 31, if approved by regulators, the company announced Thursday.
The futures will be cash-settled, meaning that cash exchanges hands at settlement instead of the underlying instrument. CME Group Ether futures final settlement price will be divided by the corresponding CME Group Bitcoin futures final settlement price to determine the value.
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"Historically, ether and bitcoin have been highly correlated; however, as the two assets have grown over time, market dynamics may affect the performance of one more than the other, creating relative value trading opportunities," Giovanni Vicioso, CME Group global head of cryptocurrency products said in a statement. “With the addition of Ether/Bitcoin Ratio futures, investors will be able to capture ether and bitcoin exposure in a single trade, without needing to take a directional view.”
In May, CME Group added daily expirations for bitcoin and ether futures options contracts as well as micro-sized bitcoin and ether futures.
Helene Braun
Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
