By Ellen Chang Institutional traders use options alongside a larger-sized ether futures contract as part of their risk management strategy. Trading for options on ether futures contracts has begun for institutional investors who want a way to manage risk. The CME launched ether options on Sept. 12, ahead of the Merge. The Merge is a major crypto event because it is a software update of the Ethereum blockchain, which is considered the internet of the crypto space. The Merge is set for Sept. 15 and if no hiccups occur, a huge step will be made in the crypto industry to build trust among investor…