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Bitcoin Friday Futures: CME Group’s Top Crypto Launch Adds Options in February
These new financially settled contracts will expire daily from Monday to Friday.
What to know:
- CME Group announced it will launch in February options on bitcoin friday futures pending regulatory approval.
- These new contracts will be financially settled and expires every day of the business week, Monday to Friday.
Chicago Mercantile Exchange Group announced it will introduce options on Bitcoin Friday Futures (BFF) starting on Feb. 24, pending regulatory approval.
According to the press release, BFF was CME Group's most successful cryptocurrency launch. More than 775,000 contracts traded since launch on Sept. 29. The average daily volume was 9,700 contracts and 44% of contracts were traded during non-U.S. hours. One contract is worth one-50th of one BTC with BFF racking up $1.63 billion in volume since launch.
STORY CONTINUES BELOW
These financially settled contracts will expire every day of the business week, Monday through Friday, providing traders with more risk management tools.
According to Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, these contracts will see smaller contract sizes and daily expirations and offer investors a more efficient toolset to adjust 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."
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system. In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
