CME Launches Micro Bitcoin Futures 0.1 BTC

The Chicago Mercantile Exchange (CME) announced plans to launch a new Bitcoin derivatives product that will allow tradersspeculate on similar units of the digital currency.

CME Group futures contract on Micro Bitcoin,which should be launched on May 3 after regulatory approval, will cost 0.1 BTC. The small size of the contract provides market participants with an additional tool for hedging price risks, CME reported on Tuesday. The current number of Bitcoins in the CME contract is 5 BTC.

Head of Stock Index and Alternative Investment Products Department at CME Group Tim MacKopt gave the following explanation:

“The introduction of Micro Bitcoin futures satisfiesthe demand for contracts of a smaller size from the side of a wide circle of customers and offers even more choice and the ability to trade with adjustable futures and bitcoin

CME Marks Consistent Trade Growthcryptocurrency derivatives from the moment of launching the first futures contract on bitcoin more than three years ago. The average daily volume of trading in CME bitcoin futures in January fell by 57%. Obviously, the interest will grow as the bullish bitcoin market attracts new investors.

There is also evidence that the marketthe cryptodeperative picks up the revs. According to CoinMarketCap, in December 2020, transactions with cryptocurrency derivatives were valued at more than $ 1, 3 trillion, which accounts for 55% of the general market.

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