CME Group introduces micro Bitcoin futures
May 3, 2021. Summarized by summa-bot.
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As the cryptocurrency bull market heats up, traders look for new ways to hedge their risk.
The Chicago Mercantile Exchange, or CME, has officially launched its newest Bitcoin (BTC) derivatives product, setting the stage for wider mainstream adoption of digital assets.
TIm McCourt, CME Group’s global head of equity index and alternative investment products, said the new product will provide “an efficient, cost-effective way for a broad array of market participants — from institutions to sophisticated, active traders — to fine-tune their bitcoin exposure and enhance their trading strategies. ”
The Micro Bitcoin futures contract is worth 0. 1 BTC, which provides traders with an additional tool to hedge their digital currency price risk.
The use of cryptocurrency derivatives has grown exponentially since CME launched the first-ever Bitcoin futures contract in December 2017.