Last Updated on May 5, 2021 by Jason
Micro Bitcoin was launched by the Chicago Mercantile Exchange as they attempt to make the most of Bitcoin’s price increase this year. Head of equity index Tim McCourt said, “At one-tenth the size of one Bitcoin, micro Bitcoin futures will provide an efficient, cost-effective way for a broad array of market participants – from institutions to sophisticated, active traders – to fine-tune their Bitcoin exposure and enhance their trading strategies.”
John Bartleman, head of TradeStation Group, said, “By lowering the barrier of entry, more traders will be able to gain exposure to Bitcoin.”
Brooks Dudley, head of ED&F Man Capital Markets, said, “At the 6 p.m. open last night, we executed the first block trade of 140 lots for two of our clients – Genesis Trading and XBTO. These smaller right-sized CME micro bitcoin futures contracts will make crypto futures trading more accessible for traders of all sizes.”
The future of micro Bitcoin is cash-settled.