Coming February 9:* Cardano (ADA and Micro ADA), Chainlink (LINK and Micro LINK) and Stellar (Lumens and Micro Lumens) futures.

Now live: Spot-Quoted XRP (QXRP) and SOL (QSOL) futures are available for trading.

*Pending regulatory review

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We offer a comprehensive suite of financially settled Bitcoin, Ether, Solana and XRP futures in larger- and Micro-sized contracts. These contracts are based on and settle to their corresponding CME CF Reference Rate, which aggregates trade data from major cryptocurrency spot exchanges during specific one-hour windows to ensure a robust, IOSCO-compliant price.

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Bitcoin Friday futures (BFF) are shorter-dated, cash-settled and smaller-sized contracts sized at 1/50 of a bitcoin. They expire every Friday at 4:00 p.m. New York time, settling to the CME CF Bitcoin Reference Rate New York Variant (BRRNY) - a daily USD benchmark aggregated from major spot exchanges.

Listing cycle: New contracts are listed every Thursday at 6:00 p.m. New York time, allowing participants to trade the nearest two Fridays at any given point. For example, on Tuesday, June 16, 2026, clients will be able to trade the BFF contracts that expire on Friday, June 19, 2026 and and Friday, June 26, 2026. At 6:00 p.m. New York time on Thursday, June 12, 2026, the Friday, July 3, 2026 contract will be available to trade.

Settlement: Daily settlement for BFF contracts are based on their respective volume-weighted average price (VWAP) of Globex trades between 2:59:00 p.m. and 3:00:00 p.m. Central Time (CT) rounded to the nearest tradable tick. The final settlement value of the futures contracts is based on the underlying CME CF Cryptocurrency Bitcoin Reference Rate New York Variant published at 4:00 p.m. New York time on the expiration day of the futures contract.

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Spot-Quoted futures (SQF) are small, capital-efficient, long-dated contracts designed to trade at the spot price. They allow participants to hold exposure to bitcoin, ether, SOL and XRP without the need for monthly or quarterly rolls by using a daily financing adjustment.

Listing cycle: Unlike monthly contracts, SQFs feature a single long-dated expiration (e.g., June 2026).

Settlement: Daily P&L for intraday traders is based solely on spot price movement. For overnight holds, P&L is impacted by the daily change in the Total Financing Adjustment. Final settlement occurs on the second Friday of the contract month at 4:00 p.m. New York time.

For more information, visit our Spot-Quoted futures FAQ.

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We offer both larger- and Micro-sized euro-denominated futures for Bitcoin and Ether.

Bitcoin Euro, Micro Bitcoin Euro, Ether Euro and Micro Ether Euro futures are available to trade based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rates.

Reference rate: The CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rates are once-a-day reference rates of the fiat price of a specific cryptocurrency. The Euro Reference Rates and Real-Time indices are not converted from USD rates.

Listing cycle: Six consecutive monthly contracts are listed, plus four additional quarterly contracts (Mar, Jun, Sep, Dec) and a second December contract if only one is listed.

Settlement: Daily settlement for the EUR- and USD-denominated contracts are based on their respective volume-weighted average price (VWAP) of Globex trades between 2:59:00 p.m. and 3:00:00 p.m. Central Time (CT) rounded to the nearest tradable tick. A fixing price will be available for the EUR-denominated contracts. Such fixing prices are for reference only and will be based on the 30-minute VWAP of Globex trades taken between 3:30 p.m. and 4:00 p.m. London time for the respective contract. The final settlement value of each futures contract is based on the underlying CME CF Cryptocurrency Reference Rate at 4:00 p.m. London time on the expiration day of the futures contract.

Margin and fees: While transaction fees are charged in USD, both initial and maintenance margins are processed and held in euros.

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EBR futures are a cash-settled futures contract that represents the U.S. dollar price of one Ether futures contract (as described in CME Rulebook Chapter 349) to the U.S. dollar price of one Bitcoin futures contract (as described in CME Rulebook Chapter 350). This ratio is multiplied by $1,000,000 to determine the notional contract size. The contract is a single trade on the relative performance of ether and bitcoin; it does not trade the Ether and Bitcoin futures legs.

The ratio uses corresponding contract months (e.g., May ether divided by May bitcoin).

Listing cycle: Monthly contracts are listed for six consecutive months, plus four additional quarters (Mar, Jun, Sep, Dec) and a second December contract if only one is listed.

Settlement: Daily settlement for Ether/Bitcoin Ratio futures will be the daily settlement of the Ether futures and Bitcoin futures divided by each other, rounded to the nearest, tradeable tick, 0.000005. For example, if ETHM6 settled at 3,188.16 and the BTCM6 settled at 93,810, the ETH/BTC Ratio futures for the June contract derives a price of 0.033985. See Question 20 for more detail on the daily settlement procedures for Ether and Bitcoin futures.

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Buying the ratio signifies an expectation that Ether will outperform Bitcoin; selling signifies an expectation that Bitcoin will lead. For these scenarios, assume a price of $3,188 for ether and $93,810 for bitcoin.

Current ratio is 0.033985 ($3,188 ÷ $93,810), notional value of $33,985.

Scenario 1: A trader expects ether price to rise 5% and the bitcoin price to remain the same; trader buys the contract at $33,985.

If ether rises 5% as expected with bitcoin staying the same, the trader would sell the contract for $3,347.40 (ETH + 5%) ÷ $93,810 (BTC same) = 0.035678 for a notional value of $35,567. The trader makes $1,582 ($35,567 - $33,985) on the trade.

Scenario 2: A trader expects the ether price to remain the same and the bitcoin price to fall 10%; the trader buys the contract at $33,985.

If bitcoin falls 10% as expected with ether staying the same: $3,188 (ETH same) ÷ $84,429 (BTC -10%) = 0.037759, for a notional value of $37,759. The trader makes $3,774 ($37,759 - $33,985) on the trade.

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A digital wallet is not required as all contracts are financially settled. To trade, you need an account with a futures broker that is licensed to execute futures trades. In the derivatives business, brokerage firms are known as either a futures commission merchant (FCM) or an introducing broker (IB). Use Find a Broker to view a list of brokers that offer clients access to trade Cryptocurrency futures. Once the account is set up for cryptocurrencies and funded, you are ready to trade.

Trading is supported via the Globex platform (which facilitates a central limit order book) and block trade submission for clearing via ClearPort and CME Direct.

See the full list of Independent Software Vendors (ISV).

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See the full list of Independent Software Vendors (ISV).

Additionally, Cryptocurrency futures trading is supported via the Globex platform (which facilitates a central limit order book) and block trade submission for clearing via ClearPort and CME Direct.

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For more information on contract sizes, price fluctuations, trading hours, settlements, margin offsets, listing cycles and more, visit the respective contract spec page listed below.

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Yes. Eligible contract participants can trade blocks and EFRPs (Exchange for Related Positions) bilaterally or through a broker/ECN. Blocks can be negotiated pursuant to Rule 526, while EFRP transactions are covered by Rule 538.

On-screen trading is available through Globex, our electronic trading platform, 23 hours per day beginning Sunday evening at 6∶00 p.m. ET and ending at 5∶00 p.m. ET Friday afternoon, with a one-hour maintenance break Monday through Thursday between 5:00 p.m. and 6:00 p.m. ET.

Coming soon: 24/7 on-screen trading for Crypto futures and options.

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Block eligible: Yes. Block transactions are allowed for Cryptocurrency futures, subject to reporting requirements per CME Rule 526. View the minimum block thresholds. However, Spot-Quoted futures are not block-eligible.

BTIC eligible: Yes, except for the euro-denominated Ether/Bitcoin Ratio futures and Spot-Quoted futures, our Cryptocurrency futures are BTIC-eligible. Find out more about Basis Trade at Index Close (BTIC)-eligible Cryptocurrency futures.

TAS eligible: The following futures are TAS eligible: Bitcoin, Micro Bitcoin, Ether, Micro Ether, SOL, Micro SOL, XRP, and Micro XRP. Find out more about Trading at Settlement (TAS).

EFP/ EFRP eligible: Yes, Cryptocurrency futures are EFP/EFRP eligible pursuant to CME Rule 538. Find out more about EFP.

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Our Cryptocurrency futures settle to the CME CF Reference Rates noted below.

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• Max order: 100 (standard), 500 (Micros/spot), 1,000 (Micro Ether/Micro Ether Euro).
• Position limits: Front-month limits apply; Micros are aggregated (e.g., 500 MET = 1 ETH). More on position limits.

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Cryptocurrency futures real-time market data is available on MDP Channel 326 and Cryptocurrency futures historical data is available through DataMine.

Additionally, real-time market data for the underlying Reference Rates and Real-Time Indices are available through MDP Channel 213. Reference Rate and Real-Time Index historical data is available through DataMine.

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Yes, Cryptocurrency futures are subject to price limits on a dynamic basis. At the commencement of each trading day, Cryptocurrency futures are assigned a price limit variant, which equals a percentage of the prior day’s Exchange-determined settlement price, or a price deemed appropriate by the GCC. During the trading day, the dynamic variant is applied in rolling 60-minute look-back periods to establish dynamic lower and upper price fluctuation limits as follows:

• The dynamic variant is subtracted from the highest trade and/or bid price during a look-back period to establish the lower price fluctuation limit.
• The dynamic variant is added to the lowest trade and/or offer price during a look-back period to establish the upper price fluctuation limit.

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Daily settlement prices: 

• Larger and Micro futures: Based on the volume-weighted average price (VWAP) of Globex trades between 2:59:00 p.m. and 3:00:00. Micro contracts settle to the price of their corresponding larger contract.
• Ether/Bitcoin Ratio (EBR) futures: Calculated as the ratio of the Ether futures settlement to the Bitcoin futures settlement (e.g., ETH settlement ÷ BTC settlement).
• Spot-Quoted futures (SQFs): Determined by the respective CME CF Spot-Quoted Cryptocurrency Marker (e.g., ETHSPOTNY), plus a total financing adjustment applied by CME Clearing.
• EUR fixing price: A fixing price is provided for EUR-denominated contracts based on the VWAP of trades between 3:30 p.m. and 4:00 p.m. London time. These are for reference only. 

Final settlement occurs on the day of expiration to provide a single, transparent price for all participants, as follows:

• Larger  and Micro futures: Settle to the underlying CME CF Reference Rate published at 4:00 p.m. London time.
• Bitcoin Friday futures (BFF): Based on the CME CF Cryptocurrency Reference Rate New York Variant published at 4:00 p.m. New York time.
• Ether/Bitcoin Ratio (EBR) futures: Determined by dividing the final settlement price of Ether futures by the final settlement price of Bitcoin futures for that contract month.
• Spot-Quoted futures (SQFs):Final settlement price is the Official Close Value of Underlying Reference Entity + Financing Adjustment on Day of Final Settlement Price Determination.

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Designed by CME Group and CF Benchmarks around the IOSCO Principles for Financial Benchmarks, the Reference Rates are a daily reference rate of the USD or EUR price of one underlying token as of 4:00 p.m. London, New York, and/or Hong Kong/Singapore time. The Reference Rates are representative of the trading activity on Constituent Exchanges and are geared towards resilience and replicability. More than 30 CME CF Reference Rates are available providing market participants reliable price discovery across multiple cryptocurrencies. View the full list.

Note: The Euro Reference Rates and Real-Time indices are not converted from USD rates. Euro-denominated rates follow the same methodology as the USD-denominated rates.

Find out more about CF Benchmarks, calculation methodology, Constituent Exchanges, historical data, oversight and more.

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Fees can be found on the Fee Schedule. All Cryptocurrency futures fees are charged in U.S. dollars.

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Only Bitcoin and Ether Euro contracts are margined and processed in euros. Margin credits are available for offsetting positions (e.g., a 1:50 offset between BTC and MBT).

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Buying the spread is equivalent to buying the deferred contract month; for example:

BTCF6 – BTCH6 is the Jan 26/Mar 26 spread. Buying this spread means buying the BTC Mar 26 contract and selling the BTC Jan 26 contract.

If you are long the Jan 26 contract, buying the Jan/Mar spread will extend your expiration into March.

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The price of the spread trade is the price of the deferred expiration less the price of the nearby expiration. After the spread trade is done, the price of the two contracts will be determined using the following convention: The nearby contract is priced at its daily settlement price on the previous day; The deferred contract is priced as the nearby contract’s assigned price plus the spread price.

For example:

• Bought BTCF6-BTCH6 @-100
• Assuming BTCF6 prior settle = 94550
• Price of the two legs: sold BTCF6 @ 94550, bought BTCH6 @ 94550 + (-100) = 93550.

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No, the EUR-denominated contracts will follow the same convention as the USD-denominated contracts, whereby buying the spread is equivalent to buying the deferred contract month.

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In the event of a hard fork, Cryptocurrency futures shall continue to settle to the underlying CME CF Reference Rate corresponding to the original token pair. The Exchange may, in its sole discretion, take alternative action with respect to hard forks in consultation with market participants as may be appropriate.

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Contracts are listed on CME Group, a U.S.-registered designated contract market (DCM) and derivatives clearing organization (DCO). They reside in the IOM Division and are regulated by the CFTC.

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Accounting and regulatory treatment varies by country. Participants are responsible for compliance and should seek professional counsel.

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We use a range of risk management tools related to Cryptocurrency futures. CME Clearing retains the right to impose exposure limits, additional capital requirements and other targeted risk management tools if we see exposures that we determine might become a concern in any product or market.

Note that our Cryptocurrency futures products are cash-settled futures contracts. As such, margins will be set in line with the volatility and liquidity profile of the product.

Further, we also have the ability for clearing members to impose trading or exposure limits on their clients. Other tools may include increased capital or margin requirements in cases where exposures increase beyond reasonable levels.

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Cryptocurrency futures fall into CME Clearing’s Base Guaranty Fund for futures and options on futures.

For all other inquiries regarding margins or CME Clearing’s approach to risk management, contact clearing.riskmanagement@cmegroup.com.

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Access requires a relationship with a clearing member. Delayed quotes are on cmegroup.com; real-time prices are available via quote vendors and CME Direct.

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Delayed quotes are available on cmegroup.com. You can also access quotes through major quote vendors.

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For more information about our offerings, visit the Cryptocurrency futures and options page.

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