The CME Bitcoin Friday Futures (BFF) Contract Recorded Over 31,000 Trades on Its First Day

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The Chicago Mercantile Exchange (CME) launched the Bitcoin Friday Futures (BFF) on September 29, and the first day of trading saw a record 31,498 contracts traded. Each contract of this product represents one-fiftieth of a bitcoin and settles in cash based on the CME Bitcoin Reference Rate every Friday. The BFF contracts are listed every Thursday, allowing market participants to hedge or speculate on short-term bitcoin price fluctuations. This move by CME addresses the demand for bitcoin derivatives, providing a more convenient trading method to help investors effectively manage bitcoin risk.

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