CME Group Set to Introduce Bitcoin Futures Trading on Fridays

The CME Group is set to broaden its cryptocurrency derivative products by launching Bitcoin Friday futures (BFF) on September 30, subject to approval by regulatory bodies.

The upcoming weekly futures contracts will represent one-fiftieth of a bitcoin and will conclude based on the CME CF Bitcoin Reference Rate New York Variant (BRRNY) at 4:00 p.m. Eastern Time every Friday.

Listing of a new BFF contract will occur each Thursday at 6:00 p.m. Eastern Time in preparation for trading on Friday, allowing traders to engage with the closest two Fridays at any time.

These weekly contracts aim to offer a pricing structure closely aligned with bitcoin’s spot price, providing a tool for investors to hedge against potential price volatility over the weekend.

“These smaller-sized, weekly expiring contracts will allow a diverse group of investors — from institutional entities to advanced retail traders — more precision in managing their bitcoin exposure on a regulated framework,” stated Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products.

“The utilization of the BRRNY, a cornerstone for major spot bitcoin ETFs, will deliver advantages in terms of liquidity expansion and more effective capture of market movements during Stateside trading times.”

Steve Sanders, Executive Vice President of Marketing and Product Development at Interactive Brokers, commented, “We are excited to support the inception of these new bitcoin futures with weekly expiries and to continue providing our clientele with low-cost products. Bitcoin Friday futures will offer our clients, who range from active traders to institutional investors, a new avenue to manage their bitcoin exposure affordably and within a reliable marketplace.”

“CME Group consistently demonstrates ingenuity in retail crypto trading, and the Bitcoin Friday futures (BFF) contract is yet another testament to that,” said Elad Even-Chen, Group CFO of Plus500.

“We support this endeavor for a shorter-term contract that caters to diverse investors seeking to control their cryptocurrency portfolios with higher precision and capital efficiency. The BFF contract will captivate a worldwide audience, fitting seamlessly with Plus500’s commitment to product innovation and heeding client requirements.”

“The Bitcoin Friday futures augment the strong lineup of CME Group products available to our customers at Webull,” Tanmay Sheth, Director of Futures at Webull, explained.

“With its smaller unit size and weekly expiration, Bitcoin Friday futures will afford our international clientele an economical entry to bitcoin exposure while also creating avenues for portfolio management and novel trading approaches.”

The Bitcoin Friday futures are set to join CME Group’s suite of widely traded benchmark Bitcoin futures contracts.

Noteworthy year-to-date trading data include: record average daily volume (ADV) of 14,554 contracts for Bitcoin futures, record open interest (OI) of 27,900 contracts for Bitcoin futures, record ADV of 37,000 contracts for Micro Bitcoin futures, and record OI of 28,000 contracts for Micro Bitcoin futures.