CME launches micro bitcoin futures

advertisement

Exchange giant CME Group has launched micro bitcoin futures, smaller-sized derivatives contracts, opening the door for a broader customer base.

The micro bitcoin futures are 1/10th the size of one bitcoin and will be settled in cash. CME first revealed the product in March.

"At one-tenth the size of one bitcoin, Micro Bitcoin futures will provide an efficient, cost-effective way for a broad array of market participants — from institutions to sophisticated, active traders — to fine-tune their bitcoin exposure and enhance their trading strategies, all while retaining the benefits of CME Group's standard Bitcoin futures," said Tim McCourt, CME Group's global head of equity index and alternative investment products.

CME launched standard bitcoin futures in December 2017 and they are one of the popular products in the crypto derivatives space. Aggregated open interest in CME's bitcoin futures is currently the third-largest, at nearly $2.5 billion, according to The Block's data dashboard.

CME also offers trading in bitcoin options and it is currently the second-largest bitcoin options exchange by trading volumes, according to data compiled by The Block.

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

TRON USDC now available

Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency. 
Read Full Story
Sponsored Post

Layer-1 Platforms: A Framework for Comparison

The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana. We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come. 
Read Full Story
Aug 11, 2021, 5:18PM UTC
More