Ethereum has been making a lot of headlines lately, and things are going great for the project ahead of the Merge upgrade. Check out the latest reports about ETH below.
CME Group to launch options on ETH futures
It’s been revealed that the major derivatives marketplace Chicago Mercantile Exchange Group will launch options trading for its Ether (ETH) futures products.
During this week, CME Group said that subject to regulatory review, it plans to launch options contracts for its Ether futures, sized at 50 ETH per contract.
Cointelegraph notes that the futures options, expected to start trading on Sept. 12, “will follow the firm launching micro-sized Bitcoin (BTC) and Ether options in March 2022, BTC options trading products in January 2020, and a BTC futures contract in December 2017.”
CME Group’s global head of equity and FX products Tim McCourt made sure to address the Ethereum blockchain’s upcoming transition to proof-of-stake.
As you probably know by now, this is also known as the Merge. Here’s what he said:
“We have […] seen heightened activity in our September and December Micro Ether options, which could also suggest that participants are hedging risk around the proposed date of the merge,” said McCourt in a statement shared with Cointelegraph.
He also said the following:
“Seventy-eight percent of Micro Ether options open interest is in the September and December contracts.”
Looking for a new opportunity to add the flexibility of options to your cryptocurrency portfolio? Meet CME Group’s Ether options, launching Sept. 12. https://t.co/yHc3s6oL9h pic.twitter.com/wlKTGNyE5K
— CME Group (@CMEGroup) August 18, 2022
Buy the ETH dip
Former BitMEX CEO Arthur Hayes said that Ethereum (ETH) is likely primed for a corrective move in the coming weeks regardless of the outcome of its upcoming update.
In a new blog post, Hayes said that if The Merge is unsuccessful, the leading smart contract platform could witness a sharp decrease in price.
Now, ETH is trading in the red, and the coin is priced at $1,738.