CME to Launch Bitcoin Volatility Futures on June 1

CME Group is set to begin trading Bitcoin Volatility futures on June 1, following the contract's certification by the CFTC on May 14. According to NS3.AI, the BVI contract will be settled based on the CME CF Bitcoin Volatility Index Settlement, which is a 30-day implied-volatility benchmark derived from CME Bitcoin and Micro Bitcoin options order books. This new product is intended to allow trading desks to manage or hedge against anticipated Bitcoin market fluctuations without directly speculating on the cryptocurrency's price.