CME Group to Launch Cash-Settled Micro Bitcoin Futures

“We’ve had a lot of demand from customers to introduce a smaller size bitcoin contract,” said Tim McCourt, CME Group global head of equity index and alternative investment products.

share
  • CME Group will launch cash-settled micro bitcoin futures worth 1/10 of one bitcoin in May.
  • Smaller contracts will allow for greater hedging and exposure opportunities for individual and institutional investors.

CME Group will launch cash-settled micro bitcoin futures contracts worth one-tenth of one bitcoin on May 3, the company announced Tuesday. 

“We’ve had a lot of demand from customers to introduce a smaller size bitcoin contract,” said Tim McCourt, CME Group global head of equity index and alternative investment products. 

“When you look at the recent rise in the price of bitcoin, the current contracts have really gotten too large for some, either in terms of the precision that folks need with managing or allocating capital to cryptocurrency, or they could be hedging some of their other crypto related strategies, whether it be options or in the underlying spot market.” 

CME Group’s current bitcoin futures contracts, which launched in 2017, have five bitcoin and are about $300,000, McCourt said. The micro bitcoin futures contracts will be around $6,000, allowing smaller investors to get involved in the digital asset space. 

The new contracts will be cash-settled, based on the CME CF Bitcoin Reference Rate, which is  a daily reference rate of the US dollar price of bitcoin.

“With the size of the contract continuing to grow as a function of the rising price of bitcoin, we think this will help us grow even further as we allow more market participants to scale their positions, to deploy different types of strategies, as well as bring new participants,” said McCourt. 

The Chicago-based exchange launched ethereum futures contracts earlier this year, further establishing itself as one of the most pro-cryptocurrency regulated exchanges in the US. On average, 767 ether contracts have been traded each day since their launch in February, which is equivalent to 38,400 ether. 

CME Group bitcoin futures trading volumes have steadily increased in the past several years, especially as bitcoin has risen in price and popularity. So far in 2021, 13,800 CME bitcoin futures contracts have traded on average each day, equivalent to 69,000 bitcoin. 

“We have seen great signs that the growth we’ve been able to manifest over the last three-plus years will certainly lend itself to what we hope will be a successful introduction of the contracts in May,” said McCourt.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

Bain Capital Crypto and Haun Ventures co-led the round as demand grows for Bitcoin-denominated savings and annuities

by Blockworks /
article-image

NYSE owner’s investment values the prediction market at $8–9 billion, signaling Wall Street’s entry into event-based trading

by Blockworks /
article-image

Pineapple begins deploying its $100 million Injective Digital Asset Treasury, staking INJ to earn yield and fund onchain mortgage ambitions

by Blockworks /
article-image

Staking levels in the ether funds will depend on protocol unstaking queue times and anticipated redemption activity, firm says

article-image

ETF inflows, miner strength, and tightening supply drive Bitcoin past its prior peak amid renewed demand for scarce assets

by Blockworks /
article-image

The Guidestar team, led by Alex Nezlobin, will join Uniswap Labs to enhance automated market maker design and smart order routing

by Blockworks /