Overview
- Trading for the new Nasdaq CME Crypto Index futures began on Monday, June 8, with CME formally confirming the launch the next day.
- CME lists two sizes: a standard NCI contract with a $10 multiplier and a micro MCI contract with a $1 multiplier, both settling in cash to the Nasdaq CME Crypto Settlement Price Index.
- The settlement index includes eight tokens—Bitcoin, Bitcoin Cash, Ether, Solana, XRP, Cardano, Chainlink and Stellar—and is market-cap-weighted so Bitcoin (about 77%) and Ethereum (about 12.7%) drive most performance.
- Nasdaq supplies the index methodology and real-time calculation while CME provides regulated trading, margining and clearing, which removes the need for traders to hold wallets or custody the underlying tokens.
- The product follows CME’s move to near-continuous crypto trading and is being promoted heavily; market watchers say the key things to watch are early volume, institutional uptake, and whether the heavy Bitcoin weight limits useful altcoin exposure.