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As crypto asset investment continues to gain traction in the mainstream financial sector, the CME Group is launching futures on the cryptocurrency Ether.

The Chicago-based derivatives exchange said that it has expanded its crypto derivatives offerings with CME Ether futures, which are based on the CME CF Ether-Dollar Reference Rate (a daily U.S. dollar price for Ether).

The new futures are listed on, and subject to, the rules of the exchange.

The CME pointed to growing institutional demand “for transparent, exchange-listed crypto derivatives” as the motivation for its new offering.

“The addition of Ether, along with our liquid Bitcoin futures and options, will create new opportunities for a broad array of clients, whether they are looking to hedge ether positions in the spot market or gain exposure to this cryptocurrency on a regulated derivatives marketplace,” said Tim McCourt, global head of equity index and alternative investment products, at CME Group.