One of the largest derivatives marketplaces, CME Group has recently launched micro-sized Bitcoin and Ether options. With this, the group is aiming to build on significant growth and liquidity seen from these instruments.
The group had announced on Monday that they’ll offer options on micro Bitcoin and Ether futures. As of now, the price of Micro Bitcoin futures (MBT) is 1/10th of one Bitcoin (BTC). Similarly, the price of Micro Ether futures (MET) is 1/10th of one Ether (ETH).
CME Group’s global head of equity and FX products, Tim McCourt said:
“The launch of these micro-sized options builds on the significant growth and liquidity we have seen in our micro bitcoin and micro ether futures.“
In addition to that, he detailed:
“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.”
Global co-head of trading at Galaxy Digital Holdings, Rober Bogucki said that he is optimistic about this new opportunity. In fact, Galaxy Digital Holdings will act as a liquidity provider for these options and other CME group crypto products. Also, the executive described:
“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.“
Previously, the CME group had launched Bitcoin futures in October 2017. Following that, the group had launched Bitcoin options in November 2019.