CME Group Announces Bitcoin Futures
The CME Group announced this morning that it plans to launch a tradeable Bitcoin futures contract in the fourth quarter of this year, pending approval by regulators. Bitcoin prices surged to all-time-highs after the news broke. The new futures contracts, if approved, will be cash-settled and based on the CME’s CF Bitcoin Reference Rate (BPR), which was launched in November of 2016.
“Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract,” Terry Duffy, CME Group Chairman and CEO, said in a statement.