Worldwide derivatives market CME Group at the moment introduced that its Bitcoin Friday futures (BFF) have launched and can be found for buying and selling.
A complete of 31,498 contracts traded throughout two completely different contract weeks. The primary commerce, a block, passed off on Sunday, September 29 and was executed by Galaxy and Marex.
“With greater than 31,000 contracts traded on day one, Bitcoin Friday futures have change into our most profitable crypto futures launch ever,” stated Giovanni Vicioso, World Head of Cryptocurrency Merchandise at CME Group. “We’re happy to see such early buyer curiosity and assist for these new contracts, each on display screen and thru the block market. The smaller measurement of these contracts, together with a weekly Friday expiry, will present traders with not solely a extra accessible strategy to entry the bitcoin market, however can even permit them to extra successfully handle their bitcoin publicity – all on a regulated alternate.”
Bitcoin Friday futures are sized at one-fiftieth of one bitcoin and cash-settled to the CME CF Bitcoin Reference Price New York Variant (BRRNY) at 4:00 p.m. New York time each Friday. A brand new BFF contract is listed each Thursday at 6:00 p.m. New York time for a Friday commerce date, with market individuals in a position to commerce the closest two Fridays at any given level.