PANews announced on January 30 that the Chicago Mercantile Exchange (CME) has announced plans to launch cash-settled options linked to its Bitcoin Friday futures on February 24, subject to regulatory approval.
Giovanni Vicioso, CME's Global Head of Crypto Products, stated that the smaller size and daily expiration of these new option contracts provide market participants with more capital-efficient tools to adjust their Bitcoin exposures. Bitcoin Friday futures, launched in September last year, have a contract size of only 1/50 of 1 Bitcoin, smaller than Coinbase's "nano" Bitcoin futures (1/100 of 1 Bitcoin). To date, the product has accumulated over 775,000 contracts traded, with an average daily volume of around 9,700 contracts.
CF Benchmarks: CME's "BitcoinFriday Futures" is the ideal choice for news traders.
