Micro Bitcoin

Cryptocurrency

Bitcoin ETF

Bitcoin

CME Group is set to introduce a new Bitcoin futures contract, dubbed Bitcoin Friday futures, on September 30, pending regulatory approval. 
These smaller-sized contracts are designed to attract retail investors who may find existing offerings or the price of Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) too large and expensive.&nbsp; 
Priced at one-fiftieth of a Bitcoin, Bitcoin Friday Futures — or BFF contracts — will be cash-settled, meaning they won’t settle in crypto. They will expire every Friday, providing traders with a more accessible and flexible option for managing their Bitcoin exposure, <a href="https://www.prnewswire.com/news-releases/cme-group-to-launch-bitcoin-friday-futures-on-september-30-302231371.html" target="_blank" rel="">according</a> to a press release.&nbsp; 
The BFF contracts will be listed every Thursday for trading the following Friday, allowing participants to trade the nearest two Fridays at any given time. This new product aims to help investors mitigate weekend price volatility by closely tracking the spot price of Bitcoin. 
Earlier on August 27, Nasdaq <a href="https://crypto.news/nasdaq-files-for-sec-approval-to-launch-bitcoin-index-options/" target="_blank" rel="noreferrer noopener">announced</a> plans to list Bitcoin index options trading that will track the price of Bitcoin represented by the CME CF Bitcoin Real-Time index.&nbsp; 
 You might also like: <a href="https://crypto.news/miners-bad-luck-rhodium-goes-bankrupt/"> Miners’ bad luck: Rhodium goes bankrupt </a> 
<h2 class="wp-block-heading" id="bitcoin-contracts">Bitcoin contracts</h2> 
Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, emphasized that these contracts allow institutional and retail traders to fine-tune their Bitcoin exposure on a regulated exchange.&nbsp; 
The contracts will settle to the CME CF Bitcoin Reference Rate New York Variant, ticker symbol ‘BRRNY,’ a benchmark also used by spot <a href="https://crypto.news/tag/Bitcoin-ETF/" target="_blank" data-type="link" data-id="https://crypto.news/tag/Bitcoin-ETF/" rel="noreferrer noopener">Bitcoin ETFs,</a> enhancing liquidity and market efficiency during U.S. trading hours. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “By settling to the BRRNY, the benchmark used by leading spot bitcoin ETFs, traders will also benefit from growing liquidity and the ability to more efficiently capture market moves during U.S. hours,” 
 Giovanni Vicioso.&nbsp; 
</blockquote> 
Interactive Brokers, Plus500, and Webull have expressed support for the launch, highlighting the product’s flexibility, cost-effectiveness, and appeal to a broad range of investors—mainly retail investors. 
This launch is part of CME Group’s ongoing efforts to expand its cryptocurrency derivatives offerings following the success of its existing <a href="https://crypto.news/tag/Bitcoin-futures/" data-type="link" data-id="https://crypto.news/tag/Bitcoin-futures/" target="_blank" rel="noreferrer noopener">Bitcoin futures</a> and Micro Bitcoin futures products. 
Earlier this year, the SEC&nbsp;<a href="https://crypto.news/sec-spot-btc-etf-products-bitcoin-retests-weekly-recap/" target="_blank" rel="noreferrer noopener">approved</a>&nbsp;spot Bitcoin ETF trading, which led many large financial institutions to file for their own spot Bitcoin ETFs. 
 You might also like: <a href="https://crypto.news/crypto-market-bounces-biggest-performers-xrp-cardano-dtx-exchange/"> Crypto market bounces; biggest performers: XRP, Cardano, DTX Exchange </a>

CME launches small Bitcoin ‘Friday Futures’ to attract retail investors

Table of Contents

crypto.news

Other articles published on Aug 27, 2024

AI and Big Data Tokens Increase Market Value by 79.7% in Three Weeks

SEC Accuses Brothers of $60M Crypto Ponzi Scheme

Vitalik Buterin Delivers Epic 'Bullish on Ethereum' Commentary

[NEOPIN 3.0 Guide] Liquid staking(APP)

Crypto Set for Huge Gains as Fed Rate Cuts and Election Approach, Global Adoption Grows

Bitget Teams Up with KoinX to Streamline Crypto Tax Filing for Traders

Join our free newsletter for daily crypto updates!