CME Group has announced the launch of Ethereum options.
Tim McCourt, head of FX products and global equities, said that such a product was launched due to the growing interest in Ethereum options.
CME Group Launches Ethereum Options
Ethereum options will allow risks to be managed prior to the Merge upgrade, which is thought to cause more volatility.
CME Group helped push the bull market to the next level by launching Ethereum futures in February.
McCourt stated that Ethereum futures led to a 43% year-over-year increase in trading volume.
Genesis executive Leon Marshall emphasized that it can be a great hedging tool for traders given the price risks ahead of the Merge upgrade.
Last month, the company launched Ethereum and Bitcoin futures in euros to meet the demand of institutional companies. Bitcoin options were launched in January 2020.
The company, which first entered the cryptocurrency market in late December 2017, has outpaced crypto exchanges in terms of Bitcoin futures trading volume this month.
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