Cryptocurrencies
CME’s Launching Smaller Bitcoin ‘Friday Futures’ Contract in Bid to Lure Retail Investors
- Retail individuals are looking for something smaller: Vicioso
- CME calling the tiny contracts ‘BFF’ or Bitcoin Friday futures
Signage for Bitcoin cryptocurrency
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
CME Group Inc. is launching a smaller Bitcoin futures contract in a bid to appeal to retail investors who may be priced out of the exchange’s existing crypto offerings.
The weekly futures contracts, dubbed Bitcoin Friday futures, will be priced at one-50th the size of one Bitcoin, meaning that investors won’t need to shelve out as much as they do when buying current offerings. The cash-settled product will be available starting Sept. 30, pending regulatory review, according to the Chicago-based company. Bitcoin was recently trading at around $62,500.