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CME Group presents micro Bitcoin futures

The Chicago Mercantile Exchange, or CME, has officially launched its newest Bitcoin-derived product (BTC), setting the stage for a wider widespread adoption of digital assets.

Tim McCourt, global director of stock index and alternative investment products at CME Group, said the new product will provide “an efficient and cost-effective way for a wide range of market participants, from institutions to active operators and sophisticated, fine-tune their exposure to bitcoins and improve their trading strategies «.

The Micro Bitcoin futures contract has a value of 0.1 BTC, which provides traders with an additional tool to hedge the price risk of the digital currency.

JB Mackenzie, managing director of TD Ameritrade Futures and Forex, said that the futures of Micro Bitcoin address the two most important issues with investing in digital currency: regularly ».

Citing the growing demand for smaller contracts, CME Group first announced its intention to launch a micro BTC derivative product on March 30th. At that time, 1 Bitcoin was worth approximately $ 58,000, which is no different from current prices. The leading digital currency soared above $ 64,000 in April before experiencing a broad setback.

The use of digital currency derivatives has grown exponentially since CME launched the first Bitcoin futures contract in December 2017. Although the Chicago Board Options Exchange will quickly follow suit, the city’s rival would eventually abandon the product offer completely.

Cryptographic derivative transactions accounted for 55% of the overall market in December 2020. This figure is likely to grow as derivative exchanges such as Bybt, FTX and BitMEX remain preferred by traders seeking an exposure to large dimensions to digital assets.

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