CME is not going to launch deliverable futures on Bitcoin

Tim McCourt, Managing Director of CME Group, said they have no plans to launch deliverable futures on the BTC.

As part of a conversation with Markets Media representatives, McCourt said that since the launch of Bitcoin futures on the platform, and this was in 2017, most client requests are related to options for this financial instrument. For the entire period of the provision of this service, the platform carried out 20 settlements on futures contracts for the flagship cryptocurrency, more than 3,300 individual account holders were involved in trading this product. On average, the site processes 7,000 CME futures daily for about 35,000 BTC.

McCourt drew attention to the fact that the institutional interest in BTC is growing, but they need time to understand the principle of the market, as well as obtain permission to use new products. Currently, hedge funds, companies that advise on trade, work with cryptocurrencies to one degree or another.

Bitcoin futures are calculated in traditional currency. A similar approach will be applied to options so that they can be used for hedging purposes. Delivering contracts on the BTC platform does not intend to launch.