Derivative platform Chicago Mercantile Exchange plans to unveil options for Micro Bitcoin and Micro Ether futures from March 28.
The options contracts, which target both retail and institutional clients, will be a tenth of their underlying token size. The two products are currently waiting for regulatory approvals.
The CME offering is an addition to the current Bitcoin options contracts introduced in 2020 that is sized at five Bitcoins.
The contracts will enable clients to take long and short-term positions with monthly and weekly expiry periods.
CME’s Global Head of Equity and FX Products, Tim McCourt, notes that about 5.2 million in total Micro Bitcoin and Micro Ether futures contracts have been transacted in a year.
Akuna Capital is one of the clients that have expressed interest in being part of the new product. CEO, John Harris, says that the firm plans to offer liquidity to CME options on the two digital assets contract futures.
Source: PR Newswire