CME Plans to Release Bite-sized Bitcoin Friday Futures
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CME Group, a major futures exchange in the US, has announced the launch of bite-sized Bitcoin Friday futures (BFF) on Sept. 30.
These contracts will be one-50 the size of a Bitcoin, making them smaller than other retail-focused Bitcoin futures products like Coinbase’s “nano” futures, which are one-100th the size of 1 BTC.
The contracts will be settled in cash every Friday using the CME CF Bitcoin Reference Rate New York Variant (BRRNY), a benchmark for BTC’s spot price. CME Group’s global head of cryptocurrency products, Giovanni Vicioso, stated that these smaller contracts will allow investors of all sizes to more accurately adjust their exposure to Bitcoin on a regulated exchange.
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