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BlockFi Announces Inaugural Block Trade for Ethereum Futures On CME
Published, 8 February, 2021
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BlockFi and CMT Digital today announced that the companies have cleared the first-ever block trade for Ethereum futures on the Chicago Mercantile Exchange (CME), facilitated by ED&F Man Capital Markets Inc.
CMT Digital is a leader in cryptocurrency trading and venture capital, and BlockFi offers the premiere institutional lending desk in the digital asset space. BlockFi also has a growing OTC trading offering, which includes bundled financing to address the needs of institutional investors.
Both companies are excited to participate in the launch of CME’s Ethereum futures product. Futures contracts allow institutions to access an asset class in a regulated, centrally cleared format and are used by institutions for both directional exposure and arbitrage strategies.
CME also offers bitcoin futures, which are actively traded with more than $2 billion in open interest, allowing traditional firms to obtain crypto exposure through a regulated product. Futures are also popular for basis arbitrage, which lets market participants provide or receive synthetic financing. BlockFi is one of the leading OTC desks for arbitrageurs trading the spot leg of such transactions, with best-in-class lending rates.
“We are constantly improving our trading infrastructure to address the needs of the institutional community,” said Yevgeniy Feldman, Vice President for Institutional Services at BlockFi. “Block trades are an important part of the traditional futures ecosystem, as they let participants access liquidity quickly and efficiently, with transparent pricing provided by an OTC desk, such as BlockFi.”
Last updated on February 17th, 2021
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As of February 14, 2022, the BlockFi Interest Account (BIA) is no longer available to new clients who are US persons or persons located in the US and existing US clients with BIA accounts are unable to transfer new assets to their BIAs. Learn More.
BlockFi Lending LLC NMLS ID#1737520 | NMLS Consumer Access
BlockFi Trading LLC NMLS ID#1873137 | NMLS Consumer Access
Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.
BlockFi Rewards Credit Card: For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.
BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.
See blockfi.com/terms for more information.
2022 © All Rights Reserved.
BlockFi Lending LLC NMLS ID#1737520 | NMLS Consumer Access
BlockFi Trading LLC NMLS ID#1873137 | NMLS Consumer Access
Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.
BlockFi Rewards Credit Card: For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.
BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.
See blockfi.com/terms for more information.
2022 © All Rights Reserved.