CME Group Adds Ethena Reference Rates for DeFi Token

CME Group has expanded its cryptocurrency benchmark offerings by adding three new reference rates for Ethena's ENA token. The move gives investors a more flexible way to value their holdings of the governance token, which is used in decentralized finance (DeFi) applications.

The CME CF Ethena-Dollar Reference Rates will be published daily at 4 p.m. local time in London, New York, and Asia-Pacific markets. This timing allows investors to match their valuation points with their respective trading days.

CF Benchmarks, the administrator of CME's cryptocurrency indices, will calculate the rates by drawing on transactions from eligible spot exchanges that meet its constituent venue rules. This approach reduces reliance on any single order book and provides a more robust reference rate for portfolio valuation and net asset value calculations.