New Bitcoin Options to Launch on CME’s Successful Friday Futures

CME to Offer Daily Bitcoin Options with Friday Futures Starting Feb. 24
Bitcoin Trading Gets Precision: CME Launches BFF Options in February
Bitcoin Futures Get a Boost: CME to Introduce Options on Feb. 24

The Chicago Mercantile Exchange Group (CME Group) has announced plans to introduce options on Bitcoin Friday Futures (BFF) starting February 24, pending regulatory approval.

According to the press release, Bitcoin Friday Futures (BFF) has been one of CME Group’s most successful cryptocurrency products. Since its launch on September 29, over 775,000 contracts have been traded, with an average daily volume of 9,700 contracts. Notably, 44% of these contracts were traded during non-U.S. hours. Each contract represents one-fiftieth of one Bitcoin, with BFF totaling $1.63 billion in volume since its debut.

These financially settled contracts will expire daily, from Monday to Friday, offering traders enhanced risk management tools to navigate Bitcoin’s market fluctuations.

Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, explained that these smaller contract sizes and daily expirations will give investors greater precision in managing Bitcoin exposure. “We are pleased to offer these new options that provide traders with even greater precision to manage short-term bitcoin price risk. Building on the success of our Bitcoin Friday futures, the smaller size of these contracts, along with daily expiries, offer market participants a capital-efficient toolset to effectively adjust their Bitcoin exposure.”

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