JERSEY CITY, N.J., Feb. 8, 2021 /PRNewswire/ — BlockFi, a financial services company dedicated to building a bridge between cryptocurrencies and traditional financial and wealth management products, today announced with CMT Digital that the companies have cleared the first-ever block trade for Ethereum futures on the CME, facilitated by ED&F Man Capital Markets Inc. CMT Digital is a leader in cryptocurrency trading and venture capital, and BlockFi offers the premiere institutional lending desk in the digital asset space. BlockFi also has a growing OTC trading offering, which includes bundled financing to address the needs of institutional investors.
Both companies are excited to participate in the launch of CME’s Ethereum futures product. Futures contracts allow institutions to access an asset class in a regulated, centrally cleared format and are used by institutions for both directional exposure and arbitrage strategies. CME also offers Bitcoin futures, which are actively traded with more than $2 billion in open interest, allowing traditional firms to obtain crypto exposure through a regulated product. Futures are also popular for basis arbitrage, which lets market participants provide or receive synthetic financing. BlockFi is one of the leading OTC desks for arbitrageurs trading the spot leg of such transactions, with best-in-class lending rates.
Yevgeniy Feldman, Vice President for Institutional Services at BlockFi, stated, “We are constantly improving our trading infrastructure to address the needs of the institutional community. Block trades are an important part of the traditional futures ecosystem, as they let participants access liquidity quickly and efficiently, with transparent pricing provided by an OTC desk, such as BlockFi.”
BlockFi is a new breed of financial services company. Founded in 2017 by Zac Prince and Flori Marquez, BlockFi is building a bridge between cryptocurrencies and traditional financial and wealth management products to advance the overall digital asset ecosystem for individual and institutional investors. BlockFi’s platform manages more than $8 billion in assets and has generated tens of millions in crypto interest for clients. The company, headquartered in New Jersey with offices around the globe, continues to expand its presence in the United States and internationally.
Media Contact for BlockFi:
Dukas Linden Public Relations
Nothing contained in this announcement should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. The information provided in this announcement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This announcement is not directed to any person in any jurisdiction where the publication or availability of the announcement is prohibited, by reason of that person’s nationality, residence or otherwise.
Neither BlockFi nor any of its affiliates or representatives provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Digital currency is not legal tender, is not backed by the government, and crypto interest accounts are not subject to FDIC or SIPC protections. Learn more at BlockFi.com.
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