Ethereum News

Industry Players Weigh In As CME Group’s Ethereum Futures Go Live

The CME Group’s ethereum (ETH) futures offering has gone live, meeting a 6pm Eastern Time (UTC 11am) target – and marking a historic first for the second-largest cryptoasset by market capitalization.

The major derivatives exchange said that its liquidity backers for the financially settled ETH futures offering include the likes of BlockFi, Galaxy, NYDIG, Genesis and CoinShares, and the product involves traders forming legally binding agreements to buy or sell ETH for a fixed price at a preassigned future date.

February contracts began trading at USD 1,669.75, with under 100 contracts already sold, mostly for February, but also over 25 for March.

Industry figures have hailed the move as a watershed for the Ethereum blockchain, the ETH community – and the wider crypto sector.

In comments shared with Our, Martin Köppelmann, the CEO of Gnosis, the operator of the Gnosis (GNO) Protocol decentralized exchange, stated,

Meanwhile, the Hong Kong-based digital asset custody provider First Digital Trust’s Chief Operating Officer Gunnar Jaerv called the move “a good step in the right direction for the digital assets space.”

But he also predicted that stability could be compromised for ETH traders as the product makes waves – but added that this volatility could be worth seeing out.

Jaerv said,

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