The futures contract had been announced in late March but has simply opened for trading.
“At one-tenth the size of one bitcoin, micro bitcoin futures provides a competent, cost-effective means for a diverse array of market participants – from institutions to sophisticated, active traders – to fine-tune their bitcoin publicity and improve their trading strategies,” Tim McCourt, mind of equity index and alternative investment items at CME Group, said in a pr release.
“By lowering the barrier of entry, more traders will be able to gain visibility to bitcoin,” said John Bartleman, president of TradeStation Group, the moms and dad company of an trading that is online that will offer clients micro BTC futures.
"At the 6 p.m. open night that is last we executed initial block trade of 140 lots for just two of our clients – Genesis Trading and XBTO. These smaller right-sized CME bitcoin that is micro agreements is likely to make crypto futures trading more accessible for traders of all of the sizes," penned Brooks Dudley, international head of electronic assets at brokerage company ED&F Man Capital Markets.
The CME bitcoin that is micro are cash-settled and in line with the CME CF Bitcoin Reference speed.