Overview
- CME Group, which unveiled the plan Thursday, targets a June 8 start for the new futures pending regulatory sign-off.
- This will be CME’s first market-cap-weighted crypto futures contract and it will be available in standard and micro sizes.
- The Nasdaq CME Crypto Index now tracks seven major tokens including Bitcoin, Ether, Solana, XRP, Cardano, Chainlink, and Stellar.
- The contracts settle in cash to the Nasdaq CME Crypto Settlement Price Index, which removes the need to hold or transfer any cryptocurrency.
- CME reports year-to-date crypto volumes up about 43 percent, a surge that precedes its shift to 24/7 crypto trading on May 29.