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Whats new? Ether/Bitcoin Ratio futures arrive on July 31

Ether/Bitcoin Ratio futures will be available starting July 31, pending regulatory review. The new contract enables traders to efficiently capture the relative value between Ether and Bitcoin in a single trade without slippage and will be cash-settled based on the settlement prices of the corresponding futures contracts.

Similar to inter-commodity spreads, ratio futures can help maintain price alignment between the two underlying contracts, potentially improving the bid-ask spreads for the outright contracts.

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Bitcoin and ether priceshave ralliedas thecryptocurrency market continues to recover in 2023. Bitcoinspriceincreased 81%, while Ethers pricerose 54% since the start of the year. The resiliency of the two leading cryptocurrencies by market capitalization has attracted increasedinstitutional interest for CME Groupssuite of regulated andliquidcryptocurrency products, culminating in record open interest in Q2.

2023 open interest (OI) records:

Source: CME Group View the full recap

Bitcoin futures: Institutional interest continued to rise throughout Q2 as investors sought regulated venues and products to hedge market volatility and manage exposure. Q2 2023 ADV reached 10.6K+ contracts and open interest averaged 14.3K contracts. The number of LOIHs averaged a record of 107 in Q2.

Ether futures: Over 3.1M contracts (156M equivalent ether) have traded since launch just over two years ago. LOIH averaged 62 throughout the quarter. Options on Ether futures have now traded over 10K contracts since their September 2022 launch.

*A Cryptocurrency futures large open interest holder (LOIH) is defined as any entity that holds at least 25 contracts of the respective futures.

View full version of Crypto Insights onlinehere.

Source: CME

Cryptocurrency futures and optionsADV: 38.6K contractsOpen interest: 79.2K contracts

Enjoy greater precision and versatility in managing short-term bitcoin and ether risk with the expansion of weekly options expiries across our Cryptocurrency options suite:

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CME Ether/Bitcoin Ratio Futures Arrive on July 31 - Markets Media