Traders have shown little interest in micro-Ether (ETH) futures on the Chicago Exchange (CME), which were launched on the platform on December 6.
If we take into account a similar product based on Bitcoin that was launched at CME on May 3, it becomes obvious that the interest in micro-futures on BTC was significantly higher.
According to a press release shared by CME, in two weeks, traders carried out transactions with 115,000 Ethereum contracts.
Tim McCourt, CME’s head of alternative investment products, has said that the interest in ETH micro-futures has been weaker than we initially expected. However, the platform believes investment in this product will continue to grow in the coming months. The emergence of micro-futures will allow traders to hedge risks.
After the launch of Bitcoin micro-futures, in the first half of May, investors completed transactions with 224,151 contracts in two weeks. Micro futures are 1/10th of Bitcoin and Ether, while standard contracts are 5 BTC and 1 ETH, respectively.