CME Group on Monday launched a new micro Bitcoin futures contract, underscoring the growing acceptance of the cryptocurrency among established traders.
The smaller contracts will allow participants to hedge spot Bitcoin risk.
“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,” Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products, said in a statement.
A woman walks past the entrance of a cryptocurrency exchange office on April 16, 2021 in Istanbul, Turkey. Cryptocurrency has seen wider industry acceptance this year.
“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,” the statement read.
Investors now will be able to trade contracts one-tenth the size of one Bitcoin. Prior...read more...