"Launching a bitcoin ETF in the U.S. will be the key to normalizing the pricing of bitcoin futures," according to JPMorgan.
CME's micro futures contract will provide institutions and individual traders one more tool to hedge their spot market risks.
Retail-dominated Bybit is now a bigger bitcoin futures exchange than CME.
A single large sell order appears to have sent prices for trading contracts on polkadot tumbling from about $33 to 25 cents in less than a minute.
The bitcoin market looks to be in a more healthy state after massive long liquidations blew the froth off the futures market.
“We are at all-time-highs territory [and] the market still has to make up its mind" about next resistance or supporting levels, says one broker.
The Chicago exchange has now traded 77 ETH contracts after going live on Sunday.
If approved, three proposed futures contracts would be tied to the outcome of National Football League games.
The futures contract is based on a basket of stocks being targeted by WallStreetBets and dogecoin.
The real-time settlement function went live on Dec. 29.
Chicago Mercantile Exchange now tops the list of the biggest bitcoin futures trading platforms, accounting for nearly 20% of all open interest.
Launching the new futures market depends on regulatory clarity.
The Chicago Mercantile Exchange (CME) announced Wednesday it will launch a futures contract on ether, the world's second-largest cryptocurrency by market value, in February.
Cryptocurrency derivatives platform ErisX launched cash-settled bounded futures on Tuesday.
The bitcoin perpetual futures "funding rate" has shot up, suggesting the market may be overleveraged to the bullish side.