The Chicago Mercantile Exchange, or CME, recently announced plans to add Ethereum (ETH) futures to its offering — three years after launching Bitcoin (BTC) futures. Market development has impacted the exchange’s decision to branch out.
“Since we launched the CME CF Ether-Dollar Reference Rate and Real-Time Index in 2018, there has been significant growth in ether transactions, and increased client demand for tools to manage price risk,” a CME representative told Cointelegraph.
Similar to CME’s Bitcoin Reference Rate, the CF Ether-Dollar Reference Rate and Real-Time Index essentially show ETH’s going market price. “As with any new product or service, we made the decision to launch Ether futures based on strong client demand and a clearly articulated need,” the representative said. “Listing Ether futures on a regulated, time-tested exchange will help to create a forward curve for investors to hedge their exposure in the cash market.”
The CME made the announcement…
