CME Group, announced the introduction of Ether (ETH) options on futures.
The launch of the Ether options contact was previously announced by CME, but it was subject to regulatory approval. Additionally, the introduction of Ether options prior to the anticipated Merge will give customers greater trading and risk-hedging alternatives.
CME Introduces ETH Futures Options
CME Group has successfully obtained regulatory approval to introduce Ether options on futures, according to a press statement on September 12. Based on the CME CF Ether-Dollar Reference Rate, which acts as a once-daily reference rate of the U.S. dollar price of Ether, the Ether options contract will yield one Ether futures with a size of 50 Ether each contract.
As Ethereum switches to proof-of-stake (PoS) after the Merge, Tim McCourt, Global Head of Equity and FX Products, CME Group, claims that demand in Ether futures is increasing. The Merge and the new Ether options contract were properly coordinated. Additionally, it let users to access and control their exposure to Ethereum (ETH).
The capital market companies DRW and Genesis Capital think that CME's tried-and-true infrastructure for trading and clearing gives clients more flexibility to trade and hedging Ether price risk. The launch of the Ether options contract prior to the Merge generates significant interest from institutional and retail clients.
Merge Readiness for Ethereum (ETH) Has Reached 99%
The Ethereum Merge preparation is currently 99.66% complete, according to OKLink's Merge Countdown, while Ethereum clients and developers work to ensure the Merge's successful deployment. The Merge is most likely to take place on September 15 at 4:00 UTC, while the precise time depends on the hash rate. The network hash rate has actually decreased to 872 TH/s.
Additionally, according to data from Ethernodes, almost 85% of customers are currently prepared for the Paris update and the Merge. At the time of writing, the price of ETH is hovering around $1750.
