March 30,2021 @07:38 AM
Coming May 3rd: Micro Bitcoin futures*
The CME Group announced today that it will add the Micro Bitcoin contract to its suite of crypto futures trading derivatives on May 3rd, 2021.
The newest crypto product, fresh off its recent launch of Ether Futures, will be one-tenth of a bitcoin (0.10 bitcoin). Compared with the current bitcoin futures trading contract (a composite of 5 bitcoins). This may help investors test the market without requiring a high initial investment.
“Since the launch of our Bitcoin futures contract in 2017, we have seen steady, ongoing growth of liquidity and market participation in our crypto derivatives, especially among institutional traders,” said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products.
“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.”
The newest crypto contract uses settlement based on the CME CF Bitcoin Reference Rate. A once-daily benchmark for the US dollar price of Bitcoin. The CME will list Micro Bitcoin futures trading contracts, and all participants must trade them in accordance with exchange rules.
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* Subject to regulatory review
