CME to Launch Market Cap-Weighted Crypto Index Futures

CME Group plans to launch the world's first market capitalization-weighted cryptocurrency index futures contract on June 8, pending regulatory approval, the derivatives exchange announced on May 14.

The Nasdaq CME Cryptocurrency Index futures will provide traders with exposure to a basket of leading digital assets through a single, financially settled product. Available in both micro-sized and standard-sized contracts, the futures will settle in U.S. dollars based on the Nasdaq CME Crypto Settlement Price Index. As of mid-May, the index tracked Bitcoin at about 77% weight, Ether at 13%, XRP at 6%, Solana at 3%, Cardano at 0.7%, Chainlink at 0.4% and Stellar Lumens at 0.3%, collectively representing the majority of the cryptocurrency market capitalization.

Giovanni Vicioso, CME Group's global head of cryptocurrency products, said the contracts offer "a regulated, cost-effective and convenient way to hedge or gain broad-based exposure to the overall crypto market." The product builds on CME's existing lineup, which includes futures on individual assets like Bitcoin, Ether, Solana, XRP, Cardano, Chainlink and Stellar Lumens, covering more than 75% of total crypto market capitalization.