CME, the prominent exchange giant, launched the smaller-sized contracts micro-Bitcoin futures, which experts suggest would attract a new customer base. Earlier in March, the company revealed in a statement that the small contracts would be the size of one-tenth of BTC.
Tim McCourt, CME’s top official, said that the size of the Bitcoin futures would provide a wide range of new customers, including the institutional investors and active traders, who are likely to benefit from the BTC exposure and revolutionize their exchange strategies.
The company initially launched its normal Bitcoin futures back in 2017 and is among the popular platforms among digital assets derivatives. As per reports, with an aggregated open interest of an impressive $2 .5 billion in the company’s BTC futures is the third-largest.
Plus, as per the latest data, the firm also offers BTC trading, which is also the runner-up in Bitcoin’s option in terms of trading volume. The announcement comes as altcoins have seen a surge in the crypto exchanges, with ETH reaching its all-time high of $3,000. Moreover, Dogecoin also soared ten percent ahead of Elon Musk’s skit on SNL.