The growing adoption of cryptocurrencies has created a demand for sophisticated tools to manage risk, gain exposure, and optimize trading strategies. At the forefront of regulated digital asset derivatives, CME Group offers a comprehensive suite of Bitcoin futures and options, enabling traders, institutions, and investors to navigate the volatility of the crypto market with confidence.
Whether you're hedging against price swings or expressing a tactical market view, CME’s Bitcoin options and futures provide transparency, capital efficiency, and reliable price discovery—all within a regulated framework.
👉 Discover how Bitcoin options can enhance your risk management strategy today.
Why Trade Bitcoin Options and Futures?
Trading Bitcoin through regulated derivatives offers several key advantages over spot markets. These benefits are especially valuable for professional traders, institutional investors, and risk managers seeking precision and compliance.
Efficient Market Exposure
Gain direct exposure to Bitcoin price movements without the complexities of holding or securing digital assets. With Bitcoin futures and options, you can take long or short positions based on your market outlook—bullish, bearish, or neutral.
Transparent Price Discovery
CME Group’s Bitcoin futures are priced using the CME CF Bitcoin Reference Rate (BRR), a trusted benchmark that aggregates trading data from major cryptocurrency exchanges. This ensures fair, verifiable pricing and reduces the risk of manipulation—critical for institutional participation.
Capital Efficiency and Margin Offsets
Holding both futures and options positions on the same underlying asset can lead to margin offsets, reducing capital requirements. This capital efficiency allows traders to deploy resources more effectively across portfolios.
Robust Regulatory Framework
As a regulated exchange, CME Group provides legal clarity, operational reliability, and counterparty risk protection—features often missing in unregulated crypto platforms.
Key Cryptocurrency Products at CME Group
CME continues to expand its digital asset offerings to meet evolving market needs. Below are the core products designed to provide flexibility, precision, and strategic advantage.
Ether/Bitcoin Ratio Futures
Express your view on the relative performance between Ethereum and Bitcoin with Ether/Bitcoin Ratio futures. This innovative product allows traders to speculate on or hedge shifts in the dominance of the two largest cryptocurrencies—without taking outright directional bets on either asset.
👉 Learn how ratio trading can refine your crypto strategy.
Basis Trade at Index Close (BTIC)
BTIC enables traders to lock in the basis—the difference between spot and futures prices—using the CME CF Bitcoin Reference Rate (BRR) or Ether-Dollar Reference Rate (ETHUSD_RR) as the final settlement price. Available on Bitcoin, Micro Bitcoin, and Ether futures, BTIC offers pricing credibility and execution flexibility.
This tool is ideal for market makers, arbitrageurs, and institutions seeking to manage roll yield or hedge spot exposure efficiently.
Micro Bitcoin and Micro Ether Futures & Options
For traders seeking lower entry points and finer risk control, Micro Bitcoin (MBT) and Micro Ether (MET) futures offer 1/10th the size of standard contracts. These smaller contracts allow for:
- More precise hedging
- Lower margin requirements
- Greater flexibility in portfolio allocation
Options on these micro contracts further enhance strategic possibilities, especially with weekly expirations.
Enhanced Flexibility with Weekly Options
CME Group has introduced weekly expirations across its Bitcoin and Ether derivatives suite, providing unprecedented granularity in risk management.
Bitcoin Monday–Friday Weekly Options
Now trade options that expire every business day. These short-dated contracts are ideal for:
- Hedging around high-impact events (e.g., Fed announcements, inflation data)
- Capitalizing on intraweek volatility
- Fine-tuning exposure without overcommitting capital
These complement existing monthly and quarterly options, giving traders a full spectrum of timeframes.
Tuesday and Thursday Expirations for Micro Contracts
Micro Bitcoin and Micro Ether now offer Tuesday and Thursday expirations, adding even more tactical precision. Combined with Monday, Wednesday, and Friday options, this creates a dynamic weekly cycle for active traders.
This structure supports strategies such as:
- Calendar spreads
- Straddles around earnings or macro events
- Short-term directional trades with defined risk
Understanding Trading Codes and Platform Integration
To facilitate seamless execution, CME provides standardized vendor codes for integration across trading platforms.
Root Code: BTC
| Platform | Futures Code | Options Code |
|---|---|---|
| Bloomberg (Front Month) | BTCA Curncy | BTCA Curncy OMON |
| Refinitiv (Front Month) | BTCc1 | 1BTC |
| CME Direct, CQG, TT, Vela | BTC | BTC |
| DTN / Blue Ocean | @BTC | @BTC |
| Activ | BTC/y.CMG | BTC/y/strike.CMG |
Note: These codes enable algorithmic trading, API connectivity, and real-time data feeds across platforms.
Tools and Resources for Crypto Traders
CME Group supports traders with free analytical tools and educational resources to build confidence and competence in crypto derivatives.
Free Pricing and Analytical Tools
Access real-time data, volatility models, and pricing calculators tailored for Bitcoin and Ether futures and options. These tools help you:
- Evaluate implied volatility
- Model option payoffs
- Backtest strategies
- Monitor open interest and volume trends
Self-Guided Learning Courses
New to futures? CME offers interactive courses covering:
- How futures and options work
- Margin requirements and settlement
- Risk management best practices
- Trading strategies using Bitcoin derivatives
These courses are ideal for onboarding new traders or refreshing core concepts.
Download the Bitcoin Options Grid (CME Direct)
CME Direct users can optimize their workflow by importing a pre-configured options grid:
- Right-click the download link
- Save the file as an
.XML - In CME Direct, go to Main Menu > Import View
- Upload the grid for instant access to full option chains
This streamlines order entry and improves visibility across strike prices and expirations.
Frequently Asked Questions (FAQ)
Q: What is the underlying benchmark for CME Bitcoin futures?
A: The CME CF Bitcoin Reference Rate (BRR) is used as the settlement price. It aggregates trading data from multiple exchanges between 3:00 PM and 4:00 PM London time.
Q: How do weekly options help manage crypto risk?
A: Weekly expirations allow traders to hedge short-term volatility around news events or market shifts without holding longer-dated, more expensive contracts.
Q: Are Micro Bitcoin options suitable for retail traders?
A: Yes. With a contract size of 0.1 BTC, Micro options lower the barrier to entry and allow for more precise position sizing.
Q: Can I trade Bitcoin options in euros?
A: Yes. Bitcoin Euro futures enable euro-denominated exposure to Bitcoin price movements, helping European investors manage currency risk.
Q: What margin benefits exist when trading both futures and options?
A: Regulated clearing allows for portfolio margining, where offsetting positions in futures and options may reduce overall margin requirements.
Q: How is BTIC different from regular futures trading?
A: BTIC allows traders to fix the basis at index close using the BRR rate, making it ideal for hedgers who want alignment with spot market valuation.
👉 Start leveraging advanced Bitcoin derivatives with a regulated global exchange.