The move will enable traders to invest in the digital currency cost-effectively on fraction units. The smaller-sized contract can be settled on a cash basis.
“The introduction of micro bitcoin futures … will offer even more choice and precision in how participants can trade regulated bitcoin futures. This will take place in a transparent and efficient manner at CME Group,” Tim McCourt. McCourt is the CME Group global head of equity index and alternative investment products.
“This will serve as a great function,” John Wu, president at AVA Labs, told Insider. ” It will increase participation, subsequently increasing liquidity, and, will provide hedging opportunities.”
CME disclosed it has seen 13,800 bitcoin futures contracts (equivalent to around 69,000 bitcoin) and 767 ether futures contracts traded (equivalent to 38,400 ether) on average per day.
