The long-awaited Ether futures of the Chicago Mercantile Exchange (CME) reached $ 30 million in volume on the first day.
On the first day of CME’s new Ether product launched on February 8, 388 contracts were traded, of which 303 were speculation about the February price. 84 contracts will expire in March and one will be due in April.
CME contracts each represent 50 Ether. The stock exchange determined the minimum transaction value as 5 contracts that exceed 450 thousand dollars at the current exchange rate.
CME ETH futures traded at $ 1,826.5, with a 1.5 percent price premium added above the most recent spot price. With most of the contracts expiring in February, investors seem to expect Ether to close this month close to current price levels.
Towards the launch of futures, Ethereum captured a significant bullish momentum to over $ 1,500. Ether’s on-chain activities and transaction fees have also hit record highs.