CME Group Reports over 500,000 Micro Bitcoin Futures Contracts Traded Since Launch

CME Group, the world's leading and most diverse derivatives marketplace, recently announced that Micro Bitcoin futures volume has surpassed 500,000 contracts on Monday, May 24.

Let's recall that, the US derivatives giant officially launched Micro Bitcoin futures on May 3, 2021. Its volume surpassed 100,000 contracts in the first six days of trading.

According to the official announcement, these contracts are one-tenth the size of one bitcoin and are cash-settled on the basis of CME CF Bitcoin Reference Rate. Micro Bitcoin futures are listed on and subject to the rules of CME.  

Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products, commented, "We are pleased with the strong uptake and support we have seen for this new contract so early on in its first month. At one-fiftieth the size of our larger Bitcoin futures, this new, smaller contract allows traders of all sizes to better manage their bitcoin price risk in an efficient, cost-effective way."

As Fazzaco reported earlier, CME Group has planned to launch Micro WTI futures on July 12​ with the aim to expand its suite of micro-sized futures contracts. Until now, the new contracts are subject to regulatory review.