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CME, the world’s top derivatives marketplace, announced plans to launch Bitcoin volatility futures that will allow traders to bet on the intensity of the cryptocurrency’s price swings. The product is scheduled to debut on June 1, pending regulatory review.
CME said the derivatives would enable Bitcoin traders to hedge against fluctuations in the asset’s price without taking a direct position on Bitcoin’s level. Giovanni Vicioso, CME’s global head of crypto products, said the futures would add “a critical new layer of risk management,” allowing traders to invest or hedge against future volatility.
CME’s Bitcoin volatility futures would track the Bitcoin Volatility Index (BVX), which is published every second between 7 a.m. and 4 p.m. CT on CME’s trading days. The BVX provides a real-time benchmark of the volatility implied by Bitcoin options contracts traded on CME, reflecting whether the market expects Bitcoin’s price to swing widely or remain relatively steady at any given moment.
Financial products tracking Bitcoin volatility have gained traction this year as institutions and retail traders look for more sophisticated ways to hedge long-term Bitcoin exposure. In March, CoinShares filed to offer what it described as Wall Street’s first Bitcoin volatility ETFs.
Those ETFs would track CME’s BVX, which has been available since 2024 and is based on volatility from Bitcoin options traded on CME.
CME also announced earlier this year plans to expand its crypto product trading hours to 24/7. Until now, CME crypto products have traded 23 hours a day, with a weekend break between Friday afternoon and Sunday evening.
CME’s 24/7 crypto trading is set to begin on May 29, several days before the Bitcoin volatility futures are penciled to launch.
Bitcoin has recently been rebounding, rising above $81,000 on Tuesday for the first time since January. The cryptocurrency had fallen close to the $60,000 level this spring after peaking above $126,000 last October.
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