Global markets company Chicago Mercantile Exchange, better known as CME Group, announced Tuesday that it traded more than 100,000 micro Bitcoin futures. Specifically, in the first six days after launch.
Indeed, Tim McCourt, CME Group’s global head of stock indices and alternative investment products, indicated at the time:
“We are pleased to see strong customer adoption and support. For our new micro Bitcoin futures contract from the start. ‘
Furthermore, he added: «Together with our existing full-size Bitcoin futures, this new smaller contract further strengthens our ability to serve a wide range of clients. From institutions to sophisticated and active operators. To manage your Bitcoin price risk».
Ultimately, the micro contract is aimed at smaller, more sophisticated and active traders. And, it represents a tenth of a Bitcoin, compared to the most expensive regular contract, which represents five Bitcoins.
CME says it traded over 100,000 micro Bitcoin futures in the first six days
In this way, CME Group, said that more than 100,000 micro Bitcoin futures were traded on its platform in the first six days of launch.
For better understanding, CME is a designated contract market (DCM) and a derivatives clearing organization (DCO) registered in the United States. In addition, it is regulated by the Commodity Futures Trading Commission (CFTC).
To remember, CME Group launched Micro Bitcoin (MBT) futures on May 3. Aiming to: “Make our market more accessible to risk managers and other traders.”
For his part, Tim McCourt explained that CME has seen tremendous growth since the launch of BTC futures in 2017. «Since launching our Bitcoin futures contract in 2017, we have seen steady and continued growth in liquidity. Likewise, the market share of our crypto derivatives, especially among institutional operators».
In addition, he noted: «The introduction of Micro Bitcoin futures responds directly to the demand for smaller contracts from a wide range of clients. And, it will offer even more choice and precision on how participants can trade regulated Bitcoin futures in a transparent and efficient manner at CME Group.».
The strong start of micro Bitcoin futures trading
As is known, futures contracts on Bitcoin are one of the most important investment instruments in the crypto world. Well, they open the door for large institutional investors to invest in the crypto market, through derivative products such as futures.
Indeed, CME Group knows this very well, who launched micro futures contracts on Bitcoin. Thus expanding its offer of BTC derivatives.
Recently, on an episode of Futures Radio, Tim McCourt and Anthony Crudele discussed the strong start of micro Bitcoin futures trading on CME.
Finally, what do you think about the popularity of micro Bitcoin futures on CME? Let me know in the comment box.
I say goodbye with this phrase from Mary Pickford: «The past cannot be changed. The future is still in your power».