Chicago Mercantile Change Group introduced it’s going to introduce choices on Bitcoin Friday Futures (BFF) beginning on Feb. 24, pending regulatory approval.

In keeping with the press release, BFF was CME Group’s most profitable cryptocurrency launch. Greater than 775,000 contracts traded since launch on Sept. 29. The typical each day quantity was 9,700 contracts and 44% of contracts had been traded throughout non-U.S. hours. One contract is price one-Fiftieth of 1 BTC with BFF racking up $1.63 billion in quantity since launch.

These financially settled contracts will expire each day of the enterprise week, Monday by way of Friday, offering merchants with extra threat administration instruments.

In keeping with Giovanni Vicioso, CME Group International Head of Cryptocurrency Merchandise, these contracts will see smaller contract sizes and each day expirations and supply buyers a extra environment friendly toolset to regulate bitcoin publicity.

“We’re happy to supply these new choices that present merchants with even better precision to handle short-term bitcoin worth threat, constructing on the success of our Bitcoin Friday futures, the smaller dimension of those contracts, together with each day expiries, supply market individuals a capital-efficient toolset to successfully alter their bitcoin publicity.”