The contracts will trade under the ticker BVI and are sized with a multiplier of $500 times the BVX index value.
Bitcoin News
CME Group will introduce cash-settled Bitcoin (BTC) volatility futures on June 1, pending regulatory approval, giving traders a regulated way to speculate on or hedge against Bitcoin's price swings without taking a directional position on the asset itself.
The contracts will trade under the ticker BVI and are sized with a multiplier of $500 times the BVX index value. They will settle to the CME CF Bitcoin Volatility Index, a real-time 30-day implied volatility measure derived from CME's CFTC-regulated Bitcoin and Bitcoin Micro options order books. The index publishes data every second between 7:00 a.m. and 4:00 p.m. Chicago time.
"Crypto market participants are seeking regulated products that provide opportunities to gain digital assets exposure when markets move," said CME Global Head of Cryptocurrency Products Giovanni Vicioso. He added that the new contracts will allow traders to invest in or hedge against Bitcoin's future volatility, accessing what he described as a critical new layer of risk management.
CF Benchmarks originally launched the BVX index in 2024 as a non-tradable benchmark before partnering with CME to rebrand it as the joint CME CF Bitcoin Volatility Indices in December of that year. CF Benchmarks CEO Sui Chung said the launch represents another step in Bitcoin's maturation as an asset class suitable for both institutional and individual investors.
"With the launch of these CFTC-regulated futures contracts, we anticipate a similar flourishing of regulated financial products that will enable investors to more precisely harness the unique characteristics of Bitcoin," Chung said.
Volatility futures are not new to financial markets. Similar products exist for commodities including oil, corn, and gold, and crypto-native platforms such as Deribit already offer BTCDVOL futures that allow traders to wager on expected crypto market volatility. CME's entry brings the product category under CFTC-regulated infrastructure for the first time in Bitcoin markets.
CME described the BVI contracts as the first of their kind within regulated venues. The offering expands CME's existing cryptocurrency product lineup, which already includes standard and micro Bitcoin futures and options.
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