CME Group launched the Friday bitcoin futures (BFF) on October 1, 2024, and 31,498 contracts were executed on the first day.
The product offers contracts worth 1/50th of #BTC that mature every Friday.
The launch aims to bridge the gap between traditional financial markets and the #cryptocurrency market by providing greater flexibility and liquidity.
On October 1, 2024, CME Group, one of the world's leading derivatives markets, announced the launch of a new #bitcoin futures product, Bitcoin Friday Futures (BFF).
The new product was a huge success from the first day of trading, with 31,498 trades with different expiration dates in two weeks. This made BFF the most successful launch of a cryptocurrency futures contract in history.
the initial success of the product can be attributed to its innovative and accessible approach for investors who want to manage BTC within a regulated framework. Bitcoin Friday Futures is designed to provide a simpler and more efficient way to enter the crypto industry.
How does the new bitcoin product work? Each contract is one fiftieth of a bitcoin, making it accessible to a wide range of investors with varying levels of capital. In addition, the contracts expire every Friday, giving investors more options to manage their positions.
the first futures contract was signed on September 29, a few days before the official launch, by two leading players in the digital asset trading market, Galaxy and Marex. The deal marked the beginning of institutional interest in the new product. The launch of trading helped bridge the gap between traditional financial markets and the cryptocurrency market.
Friday bitcoin futures are designed to settle at the New York version of the CME CF Bitcoin Benchmark Rate (BRRNY), and mature every Friday at 4 p. m. New York time. In addition, new contracts are listed every Thursday at 6:00 p. m. , so investors can trade the next two Friday contracts at any time.
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