Genesis executes 1st block trade of CME's ETH options product

A Genesis affiliate executed its first block trade of CME's newly launched large ETH options contract with Cumberland DRW, a specialized cryptoasset trading company within DRW.

Genesis, a full-service digital currency trading provider, offers a single point of access for select qualified individuals and global institutional investors.

It is a wholly owned subsidiary of Digital Currency Group, a private investor in blockchain and digital asset companies.

"ETH's dominance in the crypto ecosystem and the highly anticipated Ethereum Merge have increased demand across our institutional client base to hedge their risk and manage spot Ether price exposure on a regulated venue," said Josh Barkhordar, Head of US Sales, Genesis.