CME Group set to launch Nasdaq CME crypto index futures in June
The CME group has announced plans to partner with Nasdaq to launch the firms first weighted crypto futures by market cap on June 8. This new product is intended to give its institutional traders exposure to the major cryptocurrencies, subject to regulatory review. The exchange announced that the crypto futures, will be available in both micro and larger contract sizes. At expiration, contracts will settle against the Nasdaq CME Crypto Settlement Price Index, which tracks the largest and most actively traded cryptocurrencies. This index currently includes Bitcoin, ETH, SOL, XRP, ADA, LINK, and XLM, according to the CME Group press release. Institutional demand drives CME and Nasdaq partnership Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, has said the new contracts will offer clients “a regulated, cost-effective and convenient way to hedge or gain broad-based exposure to the overall crypto market.” He added that a 43% increase in average daily volume across CMEs crypto futures suite is strong evidence of increased institutional demand. Sean Wasserman, Head of Index Product Management at Nasdaq, framed the product as a response to investor demand for transparent and governance-backed benchmarks. “The Nasdaq CME Crypto Index was designed to serve as a foundation, and the introduction of