CME Group launches micro Bitcoin futures trading

On May 3, the Chicago Mercantile Exchange (CME Group) launched trading of a new instrument tied to the first cryptocurrency: Micro Bitcoin futures.

Coming May 3 – get ready for the launch of Micro Bitcoin futures with a video series on contract basics, how it compares to the larger Bitcoin futures, and different ways to use it. https://t.co/goMk7rij9z pic.twitter.com/XCz7spr7qF

— CME Group (@CMEGroup) May 2, 2021

The new futures contract, ticker MBT, cash-settled, is one-tenth of a bitcoin.

Announcing the instrument in March, CME said the smaller contract would enable hedging price risks on the spot market and allow traders to employ trading strategies in an efficient and profitable way.

On 13 January 2020, the exchange began trading Bitcoin options. On 8 February 2021 the platform added Ethereum futures, the trading volume of which on the first day exceeded $30 million.

Subscribe to ForkLog news on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news, infographics and opinions.