• The CME Group will be launching Micro Ether futures in early December, pending regulatory approval.
  • The new contract will be sized at one-tenth of one Ether.
  • The exchange has seen steady growth in liquidity, especially among institutional investors, since it launched Ether futures in February.

The Chicago Mercantile Exchange (CME) is expected to launch Micro Ether futures in early December, after launching Micro Bitcoin futures in May. The Micro Ether futures will be sized at one-tenth of an Ethereum coin.

Micro Ether futures to provide access to broader range of participants

Currently, the CME offers a variety of cryptocurrency derivative products, including 20 Micro products. Earlier this year, in May, the exchange launched Micro Bitcoin futures, which witnessed 100,000 Micro BTC futures traded during the first six days after launch. 

By the end of June, CME’s Micro Bitcoin futures reached 1 million contracts swapped. As of November, Micro BTC futures have reached 2.7 million contracts traded.

The CME Group launched Ether futures in February, and the firm has already seen steady growth in liquidity in the contracts, especially among institutional traders. 

Tim McCourt, the exchange’s global head of equity index and alternative investment products, added that a micro-sized contract could make the market even more accessible for a broader range of participants. 

The new contract will be cash-settled, based on the CME CF Ether-Dollar Reference Rate. 

Shortly after the CME announced its latest Micro futures product to be launched on December 6, pending regulatory review, Ethereum price rallied to a new all-time high above $4,600.

Ethereum price eyes $5,300 next

Ethereum price continues to trend higher on bullish momentum, creating another new all-time high at $4,641. On the 4-hour chart, ETH has reached the topside trend line of the ascending parallel channel pattern, suggesting that if buying pressure rises, it could be awaiting a 16% climb.

If Ethereum price manages to slice above the upper boundary of the prevailing chart pattern, its next bullish target is at $5,368, a 16% ascent. 

Given the governing technical pattern, Ethereum price may continue to print new all-time highs even if it fails to break above the aforementioned resistance trend line of the chart pattern, as long as it stays within the ascending parallel channel.

ETHUSDT

ETH/USDT 4-hour chart

The first line of defense for Ethereum price is at the middle boundary of the channel at $4,369, coinciding with the October 21 high and the 21 four-hour Simple Moving Average (SMA). This level should act as substantial support for ETH, but further selling pressure may see the token drop toward the 50 four-hour SMA at $4,272, then toward the 100 four-hour SMA at $4,140.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Watch out for Ethereum price as technical indicators point to dip below $1,000

Watch out for Ethereum price as technical indicators point to dip below $1,000

Ethereum (ETH) price is revealing a not-that bright picture for bulls this week, both from a technical perspective and because of ballooning tail risks. As bulls could not manage a close above a crucial technical hurdle, price action slipped further to the downside and moved away from the essential historic barrier. 

More Ethereum News

As NATO troops double, so do the bears' army in XRP

As NATO troops double, so do the bears' army in XRP

Ripple (XRP) price is returning with a hangover after a very short-lived party in which it rallied from $0.3043 to $0.3710, and booked 21% gains. Although bulls temporarily pushed the price above $0.3710, it turned out to be a false breakout, and eventually closed the day below, catching a lot of bulls in a bull trap in the process.

More Ripple News

Why you should approach Bitcoin price with caution

Why you should approach Bitcoin price with caution

A brief technical and on-chain analysis on Bitcoin price. Here, FXStreet's analysts evaluate where BTC could be heading next.

More Bitcoin News

Why this move from Shiba Inu price could catch investors off guard?

Why this move from Shiba Inu price could catch investors off guard?

Shiba Inu price prepares for a quick retracement after nearly a week of recovery bounce. While this run-up was impressive, things are likely going to go slow for SHIB as investors continue to book profits.

More Shiba Inu News

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis

BTC

ETH

XRP