The product is coming to market February 8, 2021 subject to regulatory approval. It will be cash-settled and based on the firm's CME CF Ether-Dollar Reference Rate. According to CME's website, one contract will be equal to 50 ETH.
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CME Group announces Ethereum futures product
“Based on increasing client demand and robust growth in our Bitcoin futures and options markets, we believe the addition of Ether futures will provide our clients with a valuable tool to trade and hedge this growing cryptocurrency,” said McCourt.
