CME Group to launch event contracts on bitcoin futures

New tools are pending regulatory review

14.02.2023 - 15:40

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2 min

What’s new? The Chicago Mercantile Exchange (CME) has announced that it will expand its suite of event contracts to include bitcoin futures on March 13. The new products are pending regulatory review. Tim McCourt, Global Head of Equity and FX Products, said that the tools will provide investors with a highly transparent and less complicated way to access the crypto markets with the added benefit of a fully regulated platform.

CME Group’s press release

What else does the press release say? McCourt said that the new contracts, which track the daily price movement of liquid benchmark bitcoin futures, offer an innovative, less costly way for investors to trade their predictions of a rise or fall in the price of BTC.

What is known about CME Group? The platform allows derivatives trading as well as portfolio optimization and data analysis for risk management. It offers futures (including options) on BTC and ETH denominated in dollars and euros, as well as options on ETH.

In October 2022, CME began publishing daily price indices for AVAX, FIL, and XTZ tokens. And in January, it launched price indices for tokens of Axie Infinity and Decentraland metaverses, as well as the Socios blockchain platform.

In February, CME CEO Terry Duffy announced the growing interest in trading cryptocurrencies from institutional investors. He added that he is optimistic about the digital assets sector, despite a challenging 2022.

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