CME Group goes live with event contracts on Bitcoin futures

Rick Steves

“These new contracts will offer an innovative, lower-cost way for investors to trade their views on the up or down price moves of bitcoin.”

Bitcoin in a few hands

CME Group has gone live with event contracts on Bitcoin futures in a move that further expands the derivatives trading giant’s digital asset offering.

Tim McCourt, Global Head of Equity and FX Products at CME Group, said: “Our new event contracts on Bitcoin futures provide a limited-risk, highly transparent way for a wide range of investors to access the bitcoin market via a fully regulated exchange.

“These cash-settled, daily expiring contracts will further complement our existing suite of 10 event contracts tied to our benchmark futures markets, which have traded more than 550,000 contracts to-date. In addition, these new contracts will offer an innovative, lower-cost way for investors to trade their views on the up or down price moves of bitcoin.”

CME digital asset offering includes EUR-denominated BTC and ETH futures

The company has recently rolled out euro-dominated bitcoin (BTC) and ether (ETH) futures contracts, the first of their kind crypto derivative product on a regulated exchange.

The new contract size for bitcoin futures equals 5 BTC while the ether product is sized at 50 ether per contract. Both contracts are cash settled, similar to the exchange’s existing dollar-denominated crypto futures, and will be priced off at the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate.

These indexes were developed in partnership with Crypto Facilities to serve as once-a-day reference rates of the euro-denominated price of bitcoin and ether. The index references pricing data using transactions and order book activity from several cryptocurrency exchanges.

In October 2022, CME Group tapped CryptoQuant as the official provider of on-chain data for CME Group’s Datamine, an on-demand platform that allows traditional financial institutions to access detailed historical data. Traditional financial institutions and hedge funds can get digital asset data from CryptoQuant via the CME Group Datamine service.

CryptoQuant, which provides on-chain data for Bitcoin, such as exchange flows, miner flows, long-term holders, and others, is used by big names in media (Forbes, Bloomberg, and CNBC) and has also contributed to Valkyrie’s Bitcoin Futures ETF approval in the US by developing an overview of the Bitcoin market, contributing.

CME Group offers event contracts on a growing number of its benchmark futures markets, including gold, silver, copper, crude oil, natural gas, E-mini S&P 500, E-mini Nasdaq-100, E-mini Dow Jones Industrial Average, E-mini Russell 2000 and euro-U.S. dollar foreign exchange futures. Valued up to $20 per contract, these daily options on futures enable participants to know their maximum profit or loss when entering a trade.

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