I think they should call this the Nano contract not the Micro!

https://www.cmegroup.com/content/dam/cmegroup/notices/ser/2021/11/SER-8874.pdf

SUBJECT: Initial Listing of the Micro Ether Futures Contract

Effective Sunday, December 5, 2021, for trade date Monday, December 6, 2021, and pending all relevant CFTC regulatory review periods, Chicago Mercantile Exchange Inc. (“CME” or “Exchange”) will list the Micro Ether Futures contract (the “Contract”) for trading on the CME Globex electronic trading platform (“CME Globex”) and for submission for clearing via CME ClearPort as more specifically described below.

0.1 Ether? This contract is tiny with a Notional of about $450. So to spread Micro Ether to Micro Bitcoin you need to do a 14:1 ratio? Also despite the contract being 1/500th of the size of the full size (50 vs 0.1), the fees are just 1/15th ($3 vs 20c) so ignoring NFA fees these are 33x more expensive to trade and with NFA fees 36x more expensive to trade. (FYI Micro Bitcoin are 25x more expensive to trade than full size). This will obviously open up trading Ether to a lot of people, but it will make buying and holding Ether expensive as your roll cost will be astronomical! Like Micro Bitcoin, the fee structure for this will make it too expensive to trade for me except in the rarest of occasions.

So we now have the following in the regulated crypto futures space

ICE Bitcoin | 1 coin, Notional ~ 64k

CME Bitcoin | 5 coins, Notional ~ $320k
CME Micro Bitcoin | 0.1 coins, Notional ~ $6.4k

CME Ether | 50 Ether, Notional ~ $225k
CME Micro Ether | 0.1 Ether, Notional ~ $0.45k

SMCJB 

I think they should call this the Nano contract not the Micro! https://www.cmegroup.com/content/dam/cmegroup/notices/ser/2021/11/SER-8874.pdf SUBJECT: Initial Listing of the Micro Ether Futures Contract Effective Sunday, December 5, 2021, for trade date Monday, December 6, 2021, and pending all relevant CFTC regulatory review periods, Chicago Mercantile Exchange Inc. (“CME” or “Exchange”) will list the Micro Ether Futures contract (the “Contract”) for trading on the CME Globex electronic trading platform (“CME Globex”) and for submission for clearing via CME ClearPort as more specifically described below. 0.1 Ether? This contract is tiny with a Notional of about $450. So to spread Micro Ether to Micro Bitcoin you need to do a 14:1 ratio? Also despite the contract being 1/500th of the size of the full size (50 vs 0.1), the fees are just 1/15th ($3 vs 20c) so ignoring NFA fees these are 33x more expensive to trade and with NFA fees 36x more expensive to trade. (FYI Micro Bitcoin are 25x more expensive to trade than full size). This will obviously open up trading Ether to a lot of people, but it will make buying and holding Ether expensive as your roll cost will be astronomical! Like Micro Bitcoin, the fee structure for this will make it too expensive to trade for me except in the rarest of occasions. So we now have the following in the regulated crypto futures space ICE Bitcoin | 1 coin, Notional ~ 64k CME Bitcoin | 5 coins, Notional ~ $320k CME Micro Bitcoin | 0.1 coins, Notional ~ $6.4k CME Ether | 5 Ether, Notional ~ $225k CME Micro Ether | 0.1 Ether, Notional ~ $0.45k

SMCJB,

You missed a decimal on the Notional Value of five ether. It should be $22.5k not $225k

Nevertheless, your points are still valid. I'm not disagreeing with anything.

fivewhy 

SMCJB, You missed a decimal on the Notional Value of five ether. It should be $22.5k not $225k Nevertheless, your points are still valid. I'm not disagreeing with anything.

@fivewhy your right in that have a typo but you actually missed what it is, the contract is approx $225k notional, but it should be 50 ether not 5.

So we now have the following in the regulated crypto futures space

ICE Bitcoin | 1 coin, Notional ~ 64k

CME Bitcoin | 5 coins, Notional ~ $320k
CME Micro Bitcoin | 0.1 coins, Notional ~ $6.4k

CME Ether | 50 Ether, Notional ~ $225k
CME Micro Ether | 0.1 Ether, Notional ~ $0.45k