Top-tier derivatives marketplace Chicago Mercantile Exchange Group has reportedly widened the scope of its crypto offerings to cover a micro Ether futures product.

Specifically, via an announcement on December 6th, the CME Group reportedly revealed the introduction of a micro Ether (ETH) futures contract sized at 0.1 ETH, equipping institutional and individual traders with an extra product for Ether exposure. 

The cash-settled micro ETH derivatives offering is reportedly listed for public trading under the Globex code METZ1, hopping onboard with crypto derivatives products at the exchange including micro Bitcoin (BTC) futures, Bitcoin futures, options on Bitcoin futures and Ether futures.

“The newest member of the CME Group cryptocurrency product family has arrived. Micro Ether futures are available for trading. https://t.co/bJoZWA7qZz”. 

Tim McCourt, CME Group’s global head of alternative investment products, additionally disclosed that the offering would make it possible for investors to “hedge their spot Ether price risk or more nimbly execute Ether trading strategies”. 

Genesis Global Trading – among the entities providing liquidity for CME Group’s crypto derivatives offerings – reportedly claimed that it had completed the execution of a contract for the micro ETH futures product, via a collaborative effort with crypto investment company XBTO.

“The Micro Ether futures contract fills a need for greater flexibility and more precise delta hedging,”Joshua Lim, Genesis’ head of derivatives, also remarked. 

The announcement reportedly surfaced at the heels of the price of ETH and numerous cryptocurrencies including Bitcoin suffering a major drop over the weekend.