CME Group has launched options on ether futures. These new contracts deliver one ether futures, sized at 50 ether per contract, and based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the US dollar price of ether.

“As market participants anticipate the upcoming Ethereum Merge, a potentially game-changing update of one of the largest cryptocurrency networks, interest in Ether derivatives is surging,” said Tim McCourt, Global Head of Equity and FX Products, CME Group.

“The launch of our new Ether options contracts is particularly well-timed to provide the crypto community with another important tool to gain access to and manage exposure to ether. Our new options contracts will also complement CME Group’s Ether futures which have seen a 43% increase in average daily volume year over year.”