CME Launches Bitcoin Friday Futures with Record 31,498 Contracts on First Trading Day

COINOTAG reported on October 2 that, per Cointelegraph, the Chicago Mercantile Exchange (CME) recently unveiled its Bitcoin Friday Futures (BFF) on September 29, marking an impressive first day with 31,498 contracts traded. These contracts, each representing one-fiftieth of a Bitcoin, are cash-settled every Friday following the CME Bitcoin reference price. The BFF contracts are introduced to the market every Thursday, offering traders an effective tool for hedging or speculating on weekly Bitcoin price movements. This strategic launch by CME is designed to meet the growing demand for Bitcoin derivatives, enhancing the ease of trading, and aiding investors in efficiently managing Bitcoin-related risks. CME’s initiative represents a significant step forward in the evolving cryptocurrency market landscape.