CME Group, one of the largest derivatives exchanges in the world, has introduced micro-sized bitcoin and ether options. “The introduction of these nano-sized options builds on the considerable growth and liquidity witnessed in our micro bitcoin and micro ether futures,” a CME representative stated.
CME Now Offers Options on Micro Bitcoin and Ether
On Monday, CME Group announced the addition of options on micro bitcoin and micro ether futures. Micro Bitcoin futures (MBT) are 1/100th the size of a bitcoin (BTC), whereas Micro Ether futures (MET) are 1/100th the size of one ether (ETH).
Tim McCourt, global head of stock and foreign exchange products at CME Group, commented:
The introduction of these nano-sized options builds on the rapid development and liquidity of our micro bitcoin and micro ether futures.
“Sized at one-tenth the size of their respective underlying tokens, these contracts will enable a broader range of market participants — from institutions to sophisticated, active, individual traders — to manage their exposure to the top two cryptocurrencies by market capitalization with greater flexibility and precision,” he explained.
Robert Bogucki, managing director and worldwide co-head of trading at Galaxy Digital Holdings, stated that his company is “eager to serve as a liquidity source for these options and other CME Group cryptocurrency products.” The executive stated as follows:
The smaller contract sizes will provide investors and traders with greater flexibility in managing their exposure to the world’s two largest cryptocurrencies, further democratising the market.
In October 2017, CME announced bitcoin futures, followed by bitcoin options in November 2019. In February 2021, the platform debuted ether futures. Following that, the firm launched mini bitcoin futures in May and micro ether futures in December of last year.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.