CME to launch bitcoin futures

Client interest inspires fourth-quarter launch target for cash-settled contract

The price of bitcoin surged this year by almost 600%

CME Group intends to launch bitcoin futures in the fourth quarter of this year, subject to regulatory approval. The new contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR), which provides a once-a-day reference rate for the US dollar price of bitcoin.

The announcement helped the digital currency reach an all-time high on October 31, surpassing the $6,400 threshold. The price of bitcoin exploded this year by almost 600%, as traders around the world sought alternative

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