CME introduces micro bitcoin futures
Exchange huge CME Group has introduced micro bitcoin futures, smaller-sized derivatives contracts, opening the door for a broader client base, The Block Crypto reports.
The micro bitcoin futures are 1/10th the size of one bitcoin and will be settled in cash. CME initially exposed the item in March.
"At one-tenth the size of one bitcoin, Micro Bitcoin futures will supply an effective, affordable method for a broad selection of market participants-- from institutions to sophisticated, active traders-- to tweak their bitcoin exposure and improve their trading methods, all while maintaining the advantages of CME Group's standard Bitcoin futures," said Tim McCourt, CME Group's international head of equity index and alternative investment items.
CME launched standard bitcoin futures in December 2017 and they are among the popular items in the crypto derivatives area.