CME launching micro bitcoin futures in May

Bitcoin • March 30, 2021, 8:15AM EDT
UPDATED: June 4, 2021, 12:44PM EDT
Tim Boyle/Bloomberg via Getty Images

Derivatives exchange giant CME Group is launching micro bitcoin futures on May 3, subject to regulatory review.

The micro bitcoin futures will be 1/10th the size of one bitcoin and are aimed at providing a cost-effective way to bitcoin exposure.

CME already offers bitcoin futures since December 2017 and is one of the top venues in the crypto derivatives space.

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"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's 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."

This year, so far, CME has seen 13,800 bitcoin futures contracts (equivalent to about 69,000 bitcoin) traded on average each day. The exchange also launched ether (ETH) futures last month, and those have seen 767 contracts traded (equivalent to 38,400 ether) on average each day since the launch, said CME.

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