0
HomeCryptocurrencyETH option contracts will be released before Ethereum upgrade on September...

ETH option contracts will be released before Ethereum upgrade on September 15

Ethereum is about to usher in the much-anticipated Ethereum 2.0 mainnet on September 15th. Many people believe that Ethereum will usher in a surge after this upgrade, so the Chicago Mercantile Exchange decided to rush in. Before the upgrade, the launch of Ethereum futures allows investors to preemptively place bets.

The Chicago Mercantile Exchange (CME) announced today that it will issue an Ethereum option contract on September 12. It is still waiting for regulatory approval. Once approved, it will join the existing ETH futures and small futures contract commodities as new investment tools.

The new option contracts will be sold at 50ETH per unit and will be priced based on CME’s own ETH/USD exchange rate, in addition to bitcoin options, futures and other small unit option contracts.

In fact, there are not many investment tools such as bitcoin and ether futures, options, etc. in the market, but CME rushed to the market before the official upgrade of ethereum on September 15, and the intention is very obvious.

“As the Ethereum protocol merges, we expect interest from both traditional investors and cryptocurrency clients,” said Sam Newman, head of digital assets at TP ICAP, the world’s largest market maker.

They will continue to support the financial products launched by CME and continue to transition towards the institutional adoption phase.

At present, the Ethereum futures contract launched by CME traded about 8,000 contracts per day in July this year.

On the other hand, ETH futures increased by 27% in the second quarter of 2022 compared with the first quarter, and small-unit contracts also increased by 34% compared with the first quarter. It can be seen that investors are very eagerly looking forward to Ethereum 2.0.

These financial products may be of interest to short-term investors, or newcomers to cryptocurrencies, but not to experienced cryptocurrency investors.

Because these new financial products may make the situation more hype, which will have a negative impact on Ethereum.

At present, ether has continued to rise in the past month, from a minimum of $900, to after breaking through $2,000 last week, it fell back to around $1,900.

Post Gallery

Publish Date:

Mehmet S. Kaya
Mehmet S. Kayahttps://teknonel.com
Mehmet is one of the administrator of Teknonel. As a software developer, he loves to share his knowledge in related topics. He is highly familiar with the editorial process from the inception of an article idea, through the iterative process, publishing, and performance analysis as well as product reviews.

MUST Check

Related Articles

4 Best Artificial Intelligence Altcoin Projects

Artificial intelligence (AI) and cryptocurrencies are two booming technologies that could revolutionize the way we think about finance. In this article, we explore the...

ApeCoin (APE): Review, Comments and Analysis

ApeCoin is a recently trending NTF based cryptocurrency. ApeCoin is the native cryptocurrency for the APE ecosystem, which includes the ApeCoin DAO and all...

Twitter reportedly developing a cryptocurrency wallet System

Twitter continues to move toward Web3, and software developers say they are already testing an e-wallet based on the Web3 concept that Twitter users...

Binance’s BNB Chain bridge was hacked: $718 million lose is calculated

The BNB Chain developed by the cryptocurrency exchange Binance was hacked in the early morning of the 7th! The official cross-chain bridge (BSC Token...

Explore More Articles