CME Group Launches Ethereum Price Indexes In Partnership With ETH Futures Exchange

The Chicago Mercantile Exchange has announced the launch of the CME CF Ether-Dollar Reference Rate and Real-Time Index in partnership with UK-based digital asset exchange Crypto Facilities.

The two new indexes will track the price movement of ETH, delivering real-time updates in USD. According to a press release published on the 14th of May, the CME CF Ether-Dollar Reference Rate will provide a daily benchmark price in USD at 4pm London time.

CME CF Ether-Dollar Real-Time Index will provide a real-time Ether price in USD.Today we launched CME CF Ether-Dollar Reference Rate and Real-Time Index, complementing our crypto pricing products & futures.

"The Ether Reference Rate and Real Time Index are designed to meet the evolving needs of this marketplace. Providing price transparency and a credible price reference source is a key development for users of Ethereum."

CME has stated that it does not yet plan to launch Ethereum futures in the near future.

The CME Group was the first organization to begin offering Bitcoin futures in December 2017, but states that "The focus right now is on the index itself."

Crypto Facilities, a UK-based digital asset exchange that has partnered with the CME Group in order to establish the indexes, has already taken the initiative to launch Ethereum futures themselves.

The exchange launched ETH futures on the 11th of May as part of a plan to "Bring greater efficiency and liquidity to crypto markets."

"Ether, the second largest cryptocurrency, experienced incredible adoption and growth in 2017, evolving into the leading blockchain for smart contracts. We are excited to be contributing to the strong community that has developed around the Ethereum network by providing a reliable reference rate and real-time Ether-Dollar price."

The CME Group is currently working alongside Crypto Assets and a number of industry experts to in the Bitcoin Oversight Committee, which is responsible for overseeing the new reference rates.