CME Micro Bitcoin Futures Volume Passes 500,000 Contracts
CME Group, the world’s leading and most diverse derivatives marketplace, announced that Micro Bitcoin futures volume surpassed 500,000 contracts on Monday, May 24.
— CME Group (@CMEGroup) May 26, 2021
“We are pleased with the strong uptake and support we have seen for this new contract so early on in its first month,” said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. “At one-fiftieth the size of our larger Bitcoin futures, this new, smaller contract allows traders of all sizes to better manage their bitcoin price risk in an efficient, cost-effective way.”
Micro Bitcoin futures are cash-settled to the CME CF Bitcoin Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin.
Micro Bitcoin futures are listed on and subject to the rules of CME.
BTCE Bitcoin product will be available to trade on the Aquis Exchange MTFs in London and Paris.
SEC has not approved a Bitcoin ETF in the US.
CME Micro Bitcoin futures launch on May 3.
Bill Powers has joined digital asset manager Arca as principal and strategic advisor.
Micro Bitcoin futures will be one-tenth the size of one bitcoin.