Traditional investment companies have recently been competing to launch #Kripto -backed investment products.
Chicago Mercantile Exchange (CME), the world's largest futures platform, which has been listing crypto-based products on its platform since 2017, wants to expand its portfolio with a new crypto-supported investment product other than the spot #Bitcoin ETF product at the center of the crypto agenda.
CME Group has applied to offer a futures product based on the #Ethereum / #btc parity in the coming days. CME, which currently mediates Bitcoin and Ethereum futures, will allow investors to hedge their current positions and evaluate the price movement of two assets in a single transaction with its new product.
By increasing its products for the crypto space, the platform may attract more attention from institutional investors as a regulated financial institution. This shows that CME continues to engage in positive activities for the crypto industry.
Giovanni, Head of Global Cryptocurrency Products at CME Group, said the following about the new futures product:
“Looking at historical data, it can be seen that there is a high correlation between Ether and Bitcoin. However, as two cryptoassets grow over time, market dynamics can further impact each other's performance, creating relative value trading opportunities.”
CME's futures product based on the ETH/BTC rate is expected to be opened for trading by the end of July.
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