September 25, 2021

CME Group set to launch Micro Bitcoin futures

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The Chicago Mercantile Exchange, or CME, has unveiled plans to launch a new Bitcoin (BTC) derivatives product that will enable traders to speculate on fractional units of the flagship digital currency.

CME Group’s Micro Bitcoin futures contract, which is set to launch May 3 pending regulatory approval, will be worth 0.1 BTC. The smaller contract size provides market participants with an additional tool to hedge their Bitcoin price risk, CME said Tuesday. CME’s current Bitcoin contract unit is 5 BTC.

Tim McCourt, CME Group’s global head of equity index and alternative investment products, explaine:

“The introduction of Micro Bitcoin futures responds directly to demand for smaller-sized contracts from a broad array of clients and will offer even more choice and precision in how participants can trade regulated Bitcoin futures in a transparent and efficient manner at CME Group.”

CME launched its Bitcoin futures contract in December 2017. The Chicago Board Options Exchange, Its larger crosstown rival, was the first to introduce the derivatives contract during the same month but has since abandoned Bitcoin futures altogether.

CME has noted a steady uptick inTitle: CME Group set to launch Micro Bitcoin futures
Sourced From: cointelegraph.com/news/cme-group-set-to-launch-micro-bitcoin-futures
Published Date: Tue, 30 Mar 2021 15:57:21 +0100