CME's ether (ETH) futures product saw 388 contracts traded on its opening day, according to Tim McCourt, CME's Managing Director and Global Head of Equity Products.
That's about 19,400 ETH, or $33 million. "The response to Ether has been overwhelming," said McCourt.
Monday marked the first full trading day of CME's ether (ETH) futures product, with initial trading having begun at 6:00 PM ET on Sunday.
The derivatives exchange first announced plans to launch ETH futures in mid-December. The contracts — each representing 50 ETH — are cash-settled and based on the CME CF Ether-Dollar Reference Rate — the platform's price discovery mechanism for ETH. There's a minimum block trade of five contracts.
McCourt disclosed the first day's metrics on a forthcoming episode of The Scoop. He …