CME Group expands crypto derivatives offerings with Micro Bitcoin and Micro Ether options

Derivatives marketplace CME Group further expanded its suite of cryptocurrency derivatives offerings on Monday with options on Micro Bitcoin and Micro Ether futures

The company further stated that the newly launched options will complement CME Group’s diverse slate of over 20 Micro products which have traded over 1.2 billion contracts since their introduction.

Tim McCourt, who was recently promoted to Senior Managing Director, Global Head of Equity and FX Products, said that the new micro-sized options build on the significant growth and liquidity the company has seen in their Micro Bitcoin and Micro Ether futures.

McCourt continued:

Tim McCourt, CME Group

Tim McCourt
Source: LinkedIn

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.

Robert Bogucki, Managing Director, Global Co-head of Trading at Galaxy Digital Holdings Ltd went on to say that the Micro Bitcoin and Micro Ether options are an important step in developing a thriving marketplace for institutions and sophisticated investors who want crypto exposure in a regulated environment.

CME Group

Bogucki added:

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.

Derek Devens, Senior Portfolio Manager, Option Group, at Neuberger Berman

We are excited for CME Group‘s new Micro Cryptocurrency options offering as it will better align the listed cryptocurrency options market with the average crypto investor’s exposure. We expect the pioneering exchange-traded, centrally cleared offering will appeal to over-the-counter cryptocurrency options market participants and facilitate increased market liquidity and price stability across cryptocurrency futures and options in U.S. listed markets. CME Group’s continued innovations represent an essential step towards building an enduring cryptocurrency ecosystem.

Read Also: