"CME Group plans futures connected to a crypto index that includes bitcoin, ether, XRP, and several other digital assets. Micro-sized and larger-sized contracts could give traders additional tools for hedging and diversified crypto exposure. Trading remains subject to regulatory review before the Nasdaq CME Crypto Index futures can launch."
"CME Group announced on May 14 that it plans to launch Nasdaq CME Crypto Index (NCI) futures on June 8, pending regulatory review. The product would give market participants exposure to leading cryptocurrencies through one financially settled futures contract tied to a Nasdaq CME index. The planned contracts will come in micro-sized and larger-sized versions."
"At expiration, the futures will settle financially to the Nasdaq CME Crypto Settlement Price Index. As of March 31, BTC represented 76.96% of the index weight, followed by ETH at 12.68%, XRP at 5.80%, SOL at 3.23%, ADA at 0.65%, LINK at 0.37%, and XLM at 0.30%."
"CME Group positioned the structure as a capital-efficient tool for hedging or gaining broad crypto market exposure. The futures will be listed on CME and remain subject to its rules. CME Group stated: Nasdaq CME Crypto Index futures will be the company's first-ever market-cap weighted futures contract, and available to trade in both micro-sized and larger-sized contracts."
CME Group plans to launch Nasdaq CME Crypto Index (NCI) futures on June 8, subject to regulatory review. The financially settled contracts will provide exposure to a crypto basket through a single futures instrument tied to a Nasdaq CME index. The products will be offered in micro-sized and larger-sized versions to support hedging and diversified crypto market exposure. Trading will occur on CME under CME rules. At expiration, the futures will settle financially to the Nasdaq CME Crypto Settlement Price Index rather than requiring delivery of individual cryptocurrencies. The index is market-cap weighted, with BTC at 76.96%, ETH at 12.68%, and XRP at 5.80%, followed by SOL, ADA, LINK, and XLM.
Read at news.bitcoin.com
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