The Chicago Mercantile Exchange (CME) has rolled out its much-anticipated futures contracts for Ether (ETH), the native cryptocurrency of the Ethereum blockchain network.
Trading in Ether futures went live late on February 7, 2021, with the February contract registering an opening price of USD 1,669.75. At the time, the spot price stood at around USD 1,600. The exchange has traded 77 contracts so far, with most activity concentrated on the February expiry. The futures contracts are legal agreements to buy or sell the crypto asset at a predetermined price later.
CME’s ether futures are cash-settled and based on the exchange’s reference rate that includes data from large cryptocurrency exchanges such as Bitstamp, Coinbase, Gemini, itBit, and Kraken.