The CME Group Monday Monday launched two indexes for tracking the price of ether, the world’s second-largest cryptocurrency, the exchange said in a news release.
The announcement sparked speculation that the derivatives exchange might launch ether futures, but CME Group said it currently had no plans to do so, CNBC reported.
“The focus right now is on the index itself,” Tim McCourt, managing director and global head of equity products and alternative investments at CME, was quoted saying by CNBC.
The indexes are the CME CF Ether-Dollar Reference Rate, which will provide a daily benchmark price in dollars at 4 p.m. London Time, and the CME CF Ether-Dollar Real Time Index, which will allow users to see a real-time ether price in dollars.
Both indexes will be calculated by Crypto Facilities, a cryptocurrency trading platform, based on transactions and order book activity from two major cryptocurrency exchanges: Kraken and Bitstamp. Read more here.