CME Group will launch cash-settled Bitcoin volatility futures

Golden Finance reports that on May 6th, the Chicago Mercantile Exchange Group (CME Group) plans to launch cash-settled Bitcoin volatility futures on June 1st, pending regulatory approval.
The product trading code is BVI, with each contract multiplier being $500 multiplied by the BVX index value, settling to the CME CF Bitcoin Volatility Index (a real-time 30-day implied volatility indicator).
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME, stated that this move allows traders to directly trade and hedge Bitcoin volatility without making directional bets on Bitcoin’s price.

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