CME Group (NASDAQ: CME), the world’s leading derivatives marketplace, launched options on Micro Bitcoin and Micro Ether futures on Monday, expanding its suite of cryptocurrency derivatives offerings even further.
CME was down 0.4% to $246.50 at the time of writing, and it is worth $88.37 billion.
These Micro Bitcoin and Micro Ether futures options will be added to CME Group’s diverse portfolio of more than 20 Micro products, which have traded more than 1.2 billion contracts since their inception.
Micro Bitcoin and Micro Ether futures options provide additional ways to manage one’s exposure to the top cryptocurrencies by market capitalization and optimize crypto trading strategies.
These options contracts, which build on the strength and liquidity of Micro Bitcoin and Micro Ether futures, allow market participants to efficiently hedge market-moving events with greater precision and flexibility, allowing traders of all sizes to gain crypto market exposure.
“The launch of these micro-sized options builds on the significant growth and liquidity we have seen in our Micro Bitcoin and Micro Ether futures,” said Tim McCourt, CME Group Global Head of Equity and FX Products.
“Sized at one-tenth of their respective underlying tokens in size, these contracts will offer a wide range of market participants – from institutions to sophisticated, active, individual traders – greater flexibility and precision to manage their exposure to the top two cryptocurrencies by market capitalization,” he added.
“CME Group Micro Bitcoin and Micro Ether options are an important step in the development of a thriving marketplace for institutions and sophisticated investors who want crypto exposure in a regulated environment,” said Robert Bogucki, Managing Director, Global Co-head of Trading at Galaxy Digital Holdings Ltd. “The smaller contract sizes will give investors and traders greater flexibility in managing their exposure to the two biggest cryptocurrencies in the world, opening the market up to new participants. Galaxy Digital is excited to act as a liquidity provider for these options and other CME Group cryptocurrency products.”