CME Group, the leading global derivatives marketplace, will introduce Bitcoin Friday futures (BFF) on September 30. These contracts, valued at 1/50th of a Bitcoin, are currently priced at approximately $1,186. The Bitcoin Friday futures can be settled in cash at 4:00 p.m. New York time every Friday, based on the CME CF Bitcoin Reference Rate New York Variant (BRRNY).
Starting September 30, a new BFF contract will be available each Thursday at 6:00 p.m. New York time, with trading options for the nearest two Fridays. The introduction of these contracts is designed to closely track Bitcoin’s spot price and help investors manage weekend price fluctuations.
Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, noted that the weekly expiring, smaller-sized contracts will allow investors, from institutions to active retail traders, to better adjust their Bitcoin exposure on a regulated platform.
The new Bitcoin Friday futures will complement CME Group’s existing suite of benchmark Bitcoin futures contracts, which have demonstrated significant trading activity this year. Highlights include a record average daily volume of 14,554 contracts and a record open interest of 27,900 contracts in Bitcoin futures, as well as a record average daily volume of 37,000 contracts and a record open interest of 28,000 contracts in Micro Bitcoin futures. Additionally, CME’s micro Ether futures have experienced four consecutive months of record-high daily volumes.
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