CME Group, a derivatives exchange that allows clients to trade various financial instruments, announced it is launching ether-bitcoin ratio futures so people can speculate and trade on the price correlation between the two digital currencies.

The derivatives exchange said it plans to roll out the option to invest in the new futures by the end of next month. The its plan is "pending regulatory review," CME said in a statement.

"Historically, ether and bitcoin have been highly correlated; however, as the two assets have grown over time, market dynamics may affect the performance of one more than the other, creating relative value trading opportunities," Giovanni Vicioso, CME Group's global head of cryptocurrency products, said in the statement. "Investors will be able to capture ether and bitcoin exposure in a single trade."

CME Group futures

CME also said the futures "will be cash-settled to the value of CME Group ether futures final settlement price, divided by the corresponding ... bitcoin futures final settlement price." Additionally, the exchange said the "new contract will follow the same listing cycle as CME Group bitcoin futures and ether futures contracts."

Earlier this month, U.S.-based crypt0currency exchange Coinbase said it planned to offer bitcoin and ether futures contracts in an effort to attract institutional investors.