The Chicago Mercantile Exchange, or CME, has unveiled plans to launch a new Bitcoin (BTC) derivatives product that will enable traders to speculate on fractional units of the flagship digital currency.
CME Group’s Micro Bitcoin futures contract, which is set to launch May 3 pending regulatory approval, will be worth 0.1 BTC. The smaller contract size provides market participants with an additional tool to hedge their Bitcoin price risk, CME said Tuesday. CME’s current Bitcoin contract unit is 5 BTC.