CME launches micro bitcoin futures

Exchange giant CME Group has launched micro bitcoin futures, smaller-sized derivatives contracts, opening the door for a broader customer base.

The micro bitcoin futures are 1/10th the size of one bitcoin and will be settled in cash. CME first revealed the product in March.

"At one-tenth the size of one bitcoin, Micro Bitcoin futures will provide an efficient, cost-effective way for a broad array of market participants — from institutions to sophisticated, active traders — to fine-tune their bitcoin exposure and enhance their trading strategies, all while retaining the benefits of CME Group's standard Bitcoin futures," said Tim McCourt, CME Group's global head of equity index and alternative investment products.

CME launched standard bitcoin futures in December 2017 and they are one of the popular products in the crypto derivatives space. Aggregated open interest in CME's bitcoin futures is currently the third-largest, at nearly $2.5 billion, according to The Block's data dashboard.

CME also offers trading in bitcoin options and it is currently the second-largest bitcoin options exchange by trading volumes, according to data compiled by The Block.

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Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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