The Chicago Mercantile Exchange (CME), the largest U.S. regulated market for bitcoin futures, has been sounding out crypto traders to gauge their interest in a listing of futures and options for the Ethereum blockchain’s native currency.
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CME Sounding Out Crypto Traders to Gauge Market Demand for Ether Futures, Options
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Darius Sit, founder and chief information officer at Singapore-based QCP Capital, told CoinDesk in an interview that CME had asked his firm whether it might be interested in trading ether (ETH) derivatives on the exchange.Ether is the second-largest cryptocurrency by market capitalization, at $41 billion. A CME Group spokesperson declined to comment when reached by CoinDesk, adding, "We don't comment on whether or not we're developing any products."The CME has become one of the leading venues for institutional investors to bet on bitcoin, following the launch of a futures contract in late 2017 and options earlier this year.Partly due to the explosive development of decentralized finance (DeFi) this year, there has been rising demand from traders for ether derivatives that can be used to make leveraged bets on price moves or simply to hedge.
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