Chicago Mercantile Exchange (CME) has announced the addition of daily expirations for Bitcoin (BTC) and Ethereum (ETH) futures options contracts. According to a press release issued by the derivatives marketplace on Monday, the new offering will be effective from May 22. Bitcoin and ether futures options will now have expirations on Mondays through Fridays, while contracts based on micro-sized bitcoin and ether futures will add Tuesdays and Thursdays as expiration dates to the current slate of Mondays, Wednesdays, and Fridays. This move is in addition to the monthly and quarterly expirations that are already available.
CME’s global head of cryptocurrency products, Giovanni Vicioso, highlighted the need for reliable and efficient cryptocurrency risk-management products in the current market. “Against a backdrop of heightened market volatility in the digital-asset sector, we continue to see clients turn to a trusted, regulated venue like CME Group for reliable and efficient cryptocurrency risk-management products,” Vicioso said.
CME Group reported that its bitcoin and ether futures and options had a record daily average volume of more than $3 billion in the first quarter. The company had launched its micro bitcoin futures in May last year to respond to demand for smaller-sized contracts. With the new daily expirations, CME is further expanding its cryptocurrency offerings and catering to the growing demand for risk-management products in the digital asset market.