CME Group to Launch Options on Bitcoin Friday Futures Starting Feb. 24
The Chicago Mercantile Exchange (CME) Group has announced plans to introduce options on its Bitcoin Friday Futures (BFF) beginning Feb. 24, pending regulatory approval.
Since its launch on Sept. 29, BFF has been CME Group’s most successful cryptocurrency product, with over 775,000 contracts traded. The product has averaged a daily volume of 9,700 contracts, with 44% of trading occurring outside U.S. market hours. Each contract represents one-50th of a bitcoin, contributing to a total trading volume of $1.63 billion.
These new options contracts will be financially settled and expire every weekday, Monday through Friday, providing traders with additional tools for managing bitcoin price risk.
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, highlighted the benefits of these contracts, emphasizing their smaller contract sizes and daily expirations as key advantages.
“We’re excited to introduce these new options, offering traders more flexibility to manage short-term bitcoin price fluctuations,” said Vicioso. “Building on the success of Bitcoin Friday Futures, these contracts provide market participants with a capital-efficient way to adjust their bitcoin exposure with greater precision.”
