Ethereum shoots to new all-time high past $1,800 for the first time after CME futures launch
Ethereumon Tuesday hit a new all-time highof $1,800, continuing its upswing since the beginning of 2021.
- The token's record high came a day after nearly 400 ETH futures contracts were traded on the CME.
- The CME's launch of ETH futures could increase price volatility in the coming weeks.
Institutions would be able to trade in large volumes, as there is now more interest in digital assets than ever before. When the CME launched bitcoin futures in 2017, its price dropped from $20,000 to $13,000 almost immediately.Separately, with crypto fund manager Grayscale adding more ETH to its trust, traders can expect to see a further rise in institutional interest in digital asset futures, especially as no actual delivery of ETH occurs on the settlement date, making it easier for institutional players to participate as no digital asset custody is required. Read more: GOLDMAN SACHS: Buy these 13 stocks poised to benefit from surging commodity costs - including 2 set to soar by more than 40%
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