ETH futures explained: how CME ether futures work
Ether is the coin that runs the Ethereum network. CME lets you trade its price as a regulated future, in two sizes that are 500 times apart.
At a glance
| Item | ETH (CME Ether futures) |
|---|---|
| What it is | A futures contract worth 50 ether, priced in US dollars per ether |
| Tick size | $0.50 per ether |
| One tick is worth | $25 ($50 per $1 move in ether) |
| Micro version | Micro Ether: 0.1 ether, $0.50 tick = $0.05 |
| Busiest hours (ET) | About 8:30 am – 4:00 pm, the US stock market day |
| What moves it most | Ether's own market, bitcoin, ETF flows, the Fed, risk mood |
| Trading hours | 24/7 since May 29, 2026, with short maintenance breaks |
| Settlement | Cash, to the CME CF Ether-Dollar Reference Rate |
Specs checked Oct 2026. Check cmegroup.com for current specs before you trade.
Full vs micro
| Micro Ether | ETH (full) | |
|---|---|---|
| Ether per contract | 0.1 | 50 |
| Value of a $1 move | $0.10 | $50 |
| Value of a $100 move | $10 | $5,000 |
| Tick value | $0.05 | $25 |
The full contract is 500 times the micro. For most small accounts, only the micro makes the math work.
How it works
Cash settlement. No ether changes hands. At expiry the contract settles to a reference price built from big exchanges' trades.
Monthly expiry. Like bitcoin futures, contracts expire on the last Friday of the month. Roll before then. See Contract rollover.
24/7 hours. Since May 29, 2026, CME crypto futures trade around the clock. There's a 2-minute weekday break (5:00–5:02 pm ET) and a 2-hour break early Saturday (3:00–5:00 am ET).
What moves it
- Bitcoin. Ether usually moves in the same direction as bitcoin, often by more. See bitcoin vs ethereum.
- Spot ether ETFs. US spot ether ETFs started trading in July 2024. Their flows can move price.
- Network news. Ethereum upgrades, activity on the network and fees can shift interest.
- Rates and the dollar. Fed news at 2:00 pm ET.
- Stock market mood. On big risk-off days, ether has often fallen with tech stocks.
When it's busiest
CME volume is highest in US hours. Weekends trade now but are thinner, with wider spreads.
Its personality
- Swingier than bitcoin. Ether's percentage moves are often bigger.
- Follows bitcoin's lead. Big bitcoin days usually set ether's direction.
- Basis. Futures can trade a bit above or below the spot price. The gap tends to shrink toward expiry.
- Older charts show weekend gaps. Those came from CME's old closed weekends.
Reading it with our method
- Check bitcoin's daily chart first. If bitcoin is in a clear downtrend, a bullish ether chart is fighting the tide.
- Then ether's daily and 4-hour charts. Mark the last places price turned around. Higher highs and higher lows, or lower ones?
- Body-close rule. Crypto tails are long. Only a candle body closing past a level counts.
- Stop first, size second. Example: your stop is $80 away. On the micro that's $80 × 0.1 = $8 per contract. On the full contract it's $80 × 50 = $4,000. With a 100-unit risk limit, up to 12 micros fit and the full contract doesn't. A math example, not a promise.
The futures tick value calculator does the math. Our free StructureX chart tool marks the turning points on TradingView, phone app included. Add it here.
Common mistakes
- Mixing up the two sizes. A typo between ETH and Micro Ether is a 500x mistake. Read the symbol twice.
- Ignoring bitcoin. Ether rarely trends hard against it for long.
- Forgetting the last-Friday expiry.
- Assuming 24/7 means always busy. Weekend liquidity is thinner.
Questions
How much is one tick on CME ether futures?
$25 on the full contract (50 ether × $0.50). On Micro Ether (0.1 ether) a tick is $0.05.
Do CME ether futures trade on weekends?
Yes, since May 29, 2026, with a 2-hour maintenance break early Saturday.
Do ether futures deliver real ether?
No. CME ether futures settle in cash to a reference price.
Why does ether follow bitcoin?
Much of the money in crypto moves in and out together. When bitcoin rises or falls hard, ether usually goes the same way, often by more.
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