BitMEX announces ETH / USD futures contract

In a blog post released today, cryptocurrency derivatives exchange, BitMEX announced the launch of ETH / USD futures contracts. The exchange will offer up to 50x leverage on the contracts and will require margin posted in Bitcoin. The contract will have a fixed Bitcoin multiplier regardless of the USD Ethereum price, meaning users will earn and lose Bitcoin as the ETH / USD exchange rate changes.

Why it matters:

• Previously BitMEX had launched ETH / USD perpetual swap and ETH / BTC futures contracts. Ether now joins BTC as the only two currencies with USD pairs on BitMEX.
• The addition of ETH / USD futures should improve price discovery and liquidity in the underlying spot market.