CME looks to double monthly open positions limit of its bitcoin futures contracts

Bitcoin • September 13, 2019, 2:45AM EDT
UPDATED: September 13, 2019, 2:51AM EDT
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The Chicago Mercantile Exchange (CME Group), the only exchange that currently provides bitcoin futures contracts in the U.S., is looking to double open positions limit of the product.

CME has written to the U.S. Commodity Futures Trading Commission (CFTC) for the proposed move, which would increase the limit from 1,000 contracts per spot month to 2,000.

One contract is for five bitcoins, which means the change, once cleared by the CFTC, would increase a trader’s maximum exposure to 10,000 bitcoins from the current 5,000. The change would then take place from the Oct. 2019 contract month and all contract months thereafter.

CME Group has been offering bitcoin futures contracts since late 2017, and the exchange is now gearing up to launch another bitcoin derivatives product, as reported by The Block last week. The new product could launch before the end of this year.

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Yogita Khatri profile picture Yogita Khatri

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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