Ethereum Futures to Launch on CME in February 2021

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  • CME Group will launch Ethereum futures in February 2021
  • CME has been in the crypto market since offering Bitcoin futures in December 2017
  • The CFTC confirmed Ethereum as a commodity in 2019, opening the door for a futures offer

On the day that Bitcoin broke the $20,000 barrier there was huge news from the second placed cryptocurrency, as CME Group announced that Ethereum futures would go live on the platform in February next year. Subject to regulatory approval, which will likely just be a box-ticking exercise, the platform will go live on February 8, 2021, marking an expansion of cryptocurrency into the traditional financial world.

“Increasing Client Demand”

CME Group announced the move yesterday morning, saying in a press release that the expansion of their cryptocurrency offering was a response to customer demand:

Based on increasing client demand and robust growth in our Bitcoin futures and options markets, we believe the addition of Ether futures will provide our clients with a valuable tool to trade and hedge this growing cryptocurrency.

The potential for an Ethereum futures platform came a step closer in October 2019 when Commodity Futures Trading Commission (CFTC) confirmed Ethereum’s status as a commodity, leaving the door open for a futures market to take on the cryptocurrency.

Ethereum Futures Set For Better Experience

The CME is a natural choice for Ethereum futures, given that it was the first platform to offer Bitcoin futures in December 2017. Ethereum holders will be hoping that the impact of CME futures on Ethereum is more positive that its impact on Bitcoin was – CFTC chairman Christopher Giancarlo admitted in 2019 that Bitcoin futures were introduced in order to help the American government control the Bitcoin price, which topped out just days after they launched.