The American global markets company Chicago Mercantile Exchange (CME Group) has announced the launch of a new bitcoin futures product on May 3, 2021, if U.S. regulators approve the product. The new contract is a micro bitcoin futures product that represents 0.1 bitcoin rather than CME’s other contract that equals five bitcoin. The smaller contract aims to make investment in bitcoin futures more accessible “to a broad array of clients.”
CME Group to Launch Micro Bitcoin Futures Contract
The well known derivatives marketplace CME Group has announced the launch of a new futures product that’s smaller than the contract that represents five bitcoin (BTC). The new product, pending regulatory approval, will be a micro-futures contract that offers exposure to 0.1 BTC. Essentially, that’s one-tenth the size of one bitcoin and the company thinks that investors will be interested in the smaller product.
Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products explained that CME has seen a lot of growth since launching BTC futures back in 2017. “Since the launch of our Bitcoin futures contract in 2017, we have seen steady, ongoing growth of liquidity and market participation in our crypto derivatives, especially among institutional traders,” McCourt explained during the micro bitcoin futures announcement.
The alternative investment products executive further noted:
The introduction of Micro Bitcoin futures responds directly to demand for smaller-sized contracts from a broad array of clients and will offer even more choice and precision in how participants can trade regulated Bitcoin futures in a …
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