CME to Expand Event Contracts into Crypto
Posted by Colin Lambert. Last updated: February 15, 2023
CME Group says it will expand its suite of event contracts to include Bitcoin futures on March 13, pending regulatory review.
The event contracts were first launched in September 2022 as the Merc sought to build its attractiveness to retail traders by offering what are, in effect, binary options. Currently the contracts are offered in EUR/USD FX futures, gold, silver, copper, crude oil, natural gas and a range of equity index “mini” contracts.
“Our new event contracts on Bitcoin futures provide a highly transparent and less complex way for investors to access cryptocurrency markets – with the added benefit of a fully regulated platform,” says Tim McCourt, global head of equity and FX products at CME Group. “These contracts, which track the daily price moves of our deeply liquid benchmark Bitcoin futures, offer an innovative, lower-cost way for investors to trade their views on the up or down price moves of bitcoin.”