The Chicago-based CME Group giant is rolling out its new crypto product today: Micro Bitcoin futures
Giant exchange CME Group has launched micro Bitcoin futures, smaller-scale derivative contracts, opening the door to a wider customer base.
The Chicago-based CME Group giant is rolling out its new crypto product today: Micro Bitcoin futures
The micro bitcoin futures are 1/10th the size of one bitcoin and will be settled in cash. CME first revealed the product in March.
Tim McCourt, CME Group’s global head of equity index and alternative investment products:
“At one-tenth, the size of one bitcoin, Micro Bitcoin futures will provide an efficient, cost-effective way for a broad array of market participants — from institutions to sophisticated, active traders — to fine-tune their bitcoin exposure and enhance their trading strategies, all while retaining the benefits of CME Group’s standard Bitcoin futures.”
Each Micro Bitcoin futures contract will be the size of one-tenth of one BTC, and it will be available for both institutional and retail traders and investors.
*CME Group Announces Launch of Micro Bitcoin Futures $CME
— *Walter Bloomberg (@DeItaone) May 3, 2021
The new product will retain all the features of a regular Bitcoin futures contract. In early February, the platform launched Ethereum-based futures.
CME launched standard bitcoin futures contracts in December 2017, and they are among the popular products in the crypto derivative space. CME’s aggregate open interest in Bitcoin futures is currently the third-largest, with close to $ 2.5 billion.
CME also offers bitcoin options and it is currently the second-largest bitcoin options exchange by trading volume.
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