Odaily Planet Daily News: CME Group's Bitcoin Friday Futures (BFF) has made its debut recently, with more than 31,498 contracts traded in two contract weeks, setting a new record for first-day trading volume in crypto futures products. Officials called it "the most successful cryptocurrency futures launch ever," with financial companies Galaxy and Marex executing the first trade block. "These weekly contracts closely track spot prices, providing traders of all types and sizes with valuable tools to increase liquidity and optimize trading strategies," said Michael Harvey, head of Galaxy chartered trading, in a statement. "The smaller size of these contracts, coupled with the expiration of every Friday, will not only provide investors with an easier way to enter the Bitcoin market, but will also enable them to manage Bitcoin risk exposure more effectively-all on regulated exchanges," said Giovanni Vicioso, global head of cryptocurrency products at CME Group. (Cointelegraph) Earlier on August 27, CME announced that it plans to launch Bitcoin Friday futures (BFF) on September 30, 2024, providing a precise and flexible way to trade Bitcoin. Each BFF contract represents 1/50 of a Bitcoin, ensuring capital efficiency and accessibility. It is reported that these shorter-term Bitcoin futures contracts will expire every Friday at 4 pm (EST) and will be settled according to the New York variant of the CME CF Bitcoin reference price, which may be closer to the spot price of Bitcoin.

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