CME Group plans to launch Bitcoin volatility futures

Techub News, according to CoinDesk, CME Group plans to launch bitcoin volatility futures on June 1, pending regulatory approval. The contract will be based on the CME CF Bitcoin Volatility Index (BVX), allowing traders to bet on the level of market volatility rather than price direction. Giovanni Vicioso, global head of cryptocurrency products at the exchange, said the new product will provide institutions with regulated volatility exposure and risk management tools. Although offshore exchanges currently offer similar products, CME's launch will meet the demand from U.S. institutions for compliant crypto derivatives.