CME Group Adds to Crypto Offerings With Ether Options
The offering will add to CME's existing crypto products, which include bitcoin and ether futures, and bitcoin options.
The overwhelming majority of ether options trading occurs over-the-counter, and activity has surged ahead of the long-awaited "merge," or shift to proof-of-stake from proof-of-work. CME’s expected launch comes just before the event, which has tentative dates of Sept. 15, 16 or 20.
"As we approach the highly anticipated Ethereum Merge next month, we continue to see market participants turn to CME Group to manage ether price risk," Tim McCourt, global head of equity and FX Products at CME Group said in the statement. "Our new Ether options will offer a wide array of clients greater flexibility and added precision to manage their ether exposure ahead of market moving events," he added.
Read more: What Is the Ethereum Merge?