The CME Group has launched micro Ethereum futures on its institutional-focused derivatives exchange. In an announcement Monday, the group unveiled the new futures product, which is sized at one-tenth of an Ethereum future. The product is aimed at providing traders with a cost-effective way to gain exposure to the second-largest digital asset by market cap: Ethereum. According to CME, traders will have access to the same features of the larger Ethereum futures, which were launched in February. In March, CME launched a micro Bitcoin future with the intention of opening up to a new demographic of active retail traders for the derivatives exchange. The firm has also recently entered a 10-year strategic partnership with Google Cloud after receiving a $1 billion investment from its parent company Alphabet ($GOOGL@US). On Tuesday morning, Ethereum traded at $4,400, gaining 10% in the last 24 hours. Bitcoin traded at $51,500, up 7% over the same period.