One Million CME Micro Bitcoin Futures Traded

Major derivatives marketplace CME Group has announced that the volume of its micro bitcoin futures offering surpassed one million contracts, less than two months after its launch.

“We continue to see strong customer demand and rapid uptake in our new Micro Bitcoin futures contract since their introduction a little more than a month ago,” said Tim McCourt, CME Group’s global head of equity index and alternative investment products, in the announcement.

The micro contract opened up a more accessible avenue into futures trading. CME introduced the contract to provide market participants with a much smaller contract option to hedge and trade bitcoin. At the time, traders and institutions had to resort to contracts in denominations of 5 BTC. Only a week after launching in May, the micro contract saw over 100,000 contracts traded.

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