100,000 Micro Bitcoin Futures Trade on CME Exchange in First Six Days

100,000 Micro Bitcoin Futures Trade on CME Exchange in First Six Days

More than 100,000 micro bitcoin futures traded on CME in the first six days since launch, the exchange has revealed. CME’s global head of equity index says that this new smaller contract, along with the full-size bitcoin futures, strengthens the exchange’s ability to help a broad array of clients. CME Group, the world’s largest financial derivatives exchange, said Tuesday that more than 100,000 micro bitcoin futures traded on its platform in the first six days of launch. CME is a U.S.-registered designated contract market (DCM) and derivatives clearing organization (DCO), regulated by the Commodity Futures Trading Commission (CFTC). The exchange launched Micro Bitcoin futures (MBT) on May 2, which it described as “1/50 the size of the bitcoin futures contract (i.e. 1/10 of one bitcoin versus five bitcoin for bitcoin futures (BTC).” The launch of the Micro Bitcoin futures contract aims “To make our market more accessible to risk managers and other traders,” CME explained. In the first week, the exchange says that the average daily volume was 16,112 contracts, with 3,192 average daily open interest. Furthermore, 36% of overall volume came from outside the U.S. and over 50% of the volume traded during non-U.S. trading hours. CME Micro Bitcoin Futures’ volume and open interest. Source: CME

Tim McCourt, CME’s global head of equity index and alternative investment products, commented: Together with our existing, full-sized bitcoin futures, this new, smaller contract further strengthens our ability to help a broad array of clients, from institutions to sophisticated, active traders, to manage their bitcoin price risk.

What do you think about the popularity of the micro bitcoin futures on CME? Let us know in the comments section below. Ethereum Price to Hit $19,842 by 2025 According to 35 Experts MARKETS AND PRICES | 1 hour ago Morgan Creek"s Mark Yusko Predicts Bitcoin Can Reach $250K in 5 Years MARKETS AND PRICES | 1 day ago Tags in this story Bitcoin derivatives, bitcoin futures, bitcoin futures contract, CME, cme bitcoin futures volume, cme bitcoin volumes, micro bitcoin contracts, micro bitcoin futures

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