Prominent BTC futures trading platform CME Group is planning to offer derivative products of Ethereum, the second-largest cryptocurrency by market cap.

After the launch of Ethereum futures, investors will get an opportunity to invest in the second-largest cryptocurrency. After getting a green signal from the concerned regulatory authority, the Ether futures will be launched on the Chicago Mercantile Exchange by February 2021.

The platform is also popular among crypto traders who are greatly interested in trading futures contracts which offer an opportunity to traders of high return. Tim McCourt, the head of Equity Index and Alternative Investment Products at CME Group Global, stated:

“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.”

McCourt further explained that Ethereum is also the second-largest coin in daily trading volume and listing it over the platform “will help to create a forward curve so Ethereum market participants can better manage price risk.”

Based on the calculated data in year to date timeframe, approximately more than $880 million (42,800 BTC) trade every day.

With the launch of Ether futures over a regulated trading site, institutional investors can increase their exposure to the second-largest cryptocurrency. “With CME $ETH futures coming online shortly, you can expect that institutions will be able to take on or deepen their ETH exposure,” a Twitter user said in his tweet.

Ethereum developers are busy transferring the consensus of the Ethereum network from proof-of-work to proof-of-stake to make the network more secure with the addition of cheaper transactions. After a successful migration to a new consensus, the adoption of Ethereum will increase multifold.

Bullish for Ethereum Coin

Currently, the total locked value over the Ethereum network has reached a total of $15 billion. As more and more decentralized apps develop over the network, the number of users will increase as a result.

Economist and crypto trader Alex Kruger claimed that CME was responsible for driving the price value from $6,000 to $20,000, which is more than a 225% increase in just 2.5 months. According to him, CME ETH futures will create bullish pressure for Ethereum coin. Over the last 24-hours, Ethereum’s price has jumped by 5.46% and is exchanging hands at $618.