Ether (ETH) futures have surpassed Bitcoin (BTC) futures in trading volume on the Chicago Mercantile Exchange (CME) for the first time. This milestone reflects a shift in institutional trading dynamics, driven by heightened volatility that has attracted more professional traders to ETH. In July 2023, open interest in ETH derivatives also exceeded that of BTC, indicating a growing institutional focus on Ether for both hedging and speculative purposes. Despite Bitcoin's continued dominance in nominal value, this trend highlights increasing institutional interest in Ethereum.