CME Group, the world’s main derivatives market, introduced it can introduce choices on Bitcoin Friday futures on February 24, pending regulatory overview.
These new contracts would be the first CME Group cryptocurrency choices to be financially-settled, with expiries accessible day by day of the enterprise week, Monday by way of Friday.
“We’re happy to provide these new choices that present merchants with even better precision to handle short-term bitcoin value threat,” stated Giovanni Vicioso, CME Group World Head of Cryptocurrency Merchandise. “Constructing on the success of our Bitcoin Friday futures, the smaller measurement of those contracts, together with every day expiries, provide market members a capital-efficient toolset to successfully alter their bitcoin publicity.”
Financially-settled choices on Bitcoin Friday futures will complement CME Group’s present suite of physically-settled choices on Bitcoin, Ether, Micro Bitcoin and Micro Ether futures, offering extra threat administration flexibility to buyers.
“Given the rising density of tradable catalysts in crypto, CME Group’s new choice suite on Bitcoin Friday futures supplies the granularity that market members want for hedging and expressing nuanced views on Bitcoin,” stated Joshua Lim, World Co-head of Markets, FalconX.
“As a serious liquidity supplier within the digital asset derivatives area, we see CME Group’s introduction of choices on Bitcoin Friday futures as a well timed, necessary addition to the market,” stated Jason City, World Head of Buying and selling at Galaxy. “These contracts provide a versatile and cost-effective approach for our buying and selling desk to optimize threat administration and supply tailor-made options to our counterparties navigating bitcoin value volatility.”
Bitcoin Friday futures have develop into CME Group’s most profitable cryptocurrency product launch. Buying and selling highlights embody:
- Greater than 775,000 contracts traded since launch on September 29
- Common every day quantity of 9,700 contracts
- 44% of contracts traded throughout non-U.S. hours
Supply: CME
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