Buy $GGsCME Group Launches Micro Bitcoin Futures
Chicago Mercantile Exchange (CME) Group, the world’s leading, and most diverse derivatives marketplace is launching Micro Bitcoin Futures which would be 1/10 of the Bitcoin value and promises to offer an efficient way for institutions to invest in one of the fastest-growing digital asset markets.
Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products commented on the launch of the micro bitcoin futures and said,
“The introduction of Micro Bitcoin futures responds directly to demand 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 transparently and efficiently CME Group.”
CME Group also holds the distinction of launching the world’s first Bitcoin Futures back in 2017 at the peak of the last bull run. The launch of the latest micro Bitcoin futures would diversify the product range offered by the group which also includes Bitcoin Futures and Options and the most recent Ether Futures.
*CME Group Announces Launch of Micro Bitcoin Futures $CME
— *Walter Bloomberg (@DeItaone) May 3, 2021
CME Groups Bitcoin and Ether derivative products are some of the most sought-after crypto derivatives products with trading volumes ranging in Billions. CME Group first announced the launch of its Micro Bitcoin Futures toward the end of March.
Crypto Derivative Market on the Rise
A total of 13,800 CME Bitcoin futures contracts (equivalent to about 69,000 bitcoin) have traded on average each day. In addition, CME Ether futures have seen 767 contracts traded (equivalent to 38,400 ether) on average each day since launched on February 8. The growing volume of such contracts is evident in the rising interest of institutions in the digital asset market.
Another Bitcoin Futures market provider Bakkt powered by the ICE recently made its public debut amid growing demand. The US regulators are expected to also approve the first Bitcoin ETF in the US this year which would only expand the product range for the service.
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