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CME Group Announces Plans to Launch ETH to BTC Ratio Futures

The futures will be cash-settled, the derivatives exchange said.

By Helene Braun
AccessTimeIconJun 29, 2023 at 5:54 p.m. UTC
Chicago Mercantile Exchange Center (Raymond Boyd/Getty Images)
Chicago Mercantile Exchange Center (Raymond Boyd/Getty Images)
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Derivatives exchange CME Group plans to launch ether/bitcoin (ETH/BTC) ratio futures on July 31, if approved by regulators, the company announced Thursday.

The futures will be cash-settled, meaning that cash exchanges hands at settlement instead of the underlying instrument. CME Group Ether futures final settlement price will be divided by the corresponding CME Group Bitcoin futures final settlement price to determine the value.

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    • "Historically, ether and bitcoin have been highly correlated; however, as the two assets have grown over time, market dynamics may affect the performance of one more than the other, creating relative value trading opportunities," Giovanni Vicioso, CME Group global head of cryptocurrency products said in a statement. “With the addition of Ether/Bitcoin Ratio futures, investors will be able to capture ether and bitcoin exposure in a single trade, without needing to take a directional view.”

    In May, CME Group added daily expirations for bitcoin and ether futures options contracts as well as micro-sized bitcoin and ether futures.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Helene Braun
    Helene Braun

    Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

    Follow @HeleneBraunn on Twitter

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