Micro Cryptocurrency futures and options
Manage bitcoin and ether exposure with greater precision and flexibility. Enjoy the features of larger contracts and the access of a smaller contract size. See why over 10 million contracts have traded – and counting.
More access, less margin
Enjoy nearly 24-hour access, price discovery, reduced counterparty risk, and more with the lower initial margin of smaller contracts. Add the potential savings of margin offsets.
Fine-tune your exposure
Add precision to your trading strategies and scale positions up or down incrementally using contracts that are 1/10 the size of one bitcoin or one ether.
Trade in a regulated marketplace
CFTC oversight helps ensure integrity in our markets, where all participants see the same contract prices and quotes on contracts settled to CME CF Reference Rates.
Micro Cryptocurrency products
Access the evolving cryptocurrency market with a smaller financial commitment
Building on the strength and liquidity of Bitcoin and Ether futures, Micro Cryptocurrency futures and options enable market participants to efficiently hedge market-moving events with greater precision and flexibility, enabling traders of all sizes to access crypto market exposure.
Contract specifications
| Micro Bitcoin futures (MBT) | Micro Ether futures (MET) | |
| CONTRACT UNIT | 0.10 bitcoin | 0.10 ether |
| PRICE QUOTATION | U.S. dollars and cents per bitcoin | U.S. dollars and cents per ether |
| TRADING HOURS |
CME Globex: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT BTIC: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a trading halt from 4:00 - 4:30 p.m. London Time (10:00/11:00 - 10:30/11:30 a.m. CT) and a daily maintenance period from 4:00 - 5:00 p.m. CT. CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday 5:45 p.m. – 6:00 p.m. BTIC: Sunday 5:00 p.m. CT - Friday 5:45 p.m. CT with a trading halt from 4:00 - 4:30 p.m. London Time (10:00/11:00 - 10:30/11:30 a.m. CT) with no reporting Monday – Thursday 5:45 – 6:00 p.m. CT |
|
| MINIMUM PRICE FLUCTUATION |
Outright: BTIC: $1.00 per bitcoin = $0.10 CALENDAR SPREAD $1.00 per bitcoin = $0.10 |
Outright: BTIC: $0.10 per ether = $0.01 per contract CALENDAR SPREAD $0.10 per ether = $0.01 per contract |
| PRODUCT CODE | CME Globex: MBT CME ClearPort: MBT Clearing: MBT BTIC: MIB |
CME Globex: MET CME ClearPort: MET Clearing: MET BTIC: EMB |
| LISTED CONTRACTS | Monthly contracts listed for 6 consecutive months, quarterly contracts (Mar, Jun, Sep, Dec) listed for 4 additional quarters and a second Dec contract if only one is listed. | |
| SETTLEMENT METHOD | Financially Settled | |
| FLOATING PRICE | BRR Index - index provided by CF Benchmarks | ETHUSD_RR - index provided by CF Benchmarks |
| TERMINATION OF TRADING |
Trading terminates at 4:00 p.m. London time on the last Friday of the contract month that is either a London or U.S. business day. If the last Friday of the contract month is not a business day in both London and the U.S., trading terminates on the prior London or U.S. business day. BTIC: Trading terminates at 4:00 p.m. London time on the last Thursday of the contract month that is either a London or U.S. business day. If the last Thursday of the contract month is not a business day in both London and the U.S., trading terminates on the prior London or U.S. business day. |
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| Options on Micro Bitcoin futures | Options on Micro Ether futures | |
| Contract Size | One Micro Bitcoin futures contract (futures contract = 0.10 bitcoin) | One Micro Ether futures contract (futures contract = 0.10 ether) |
| Trading Hours and Venue | CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. ET (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. ET (4:00 p.m. CT) ClearPort: 6:00 p.m. Sunday to 6:45 p.m. Friday ET (5:00 p.m. - 5:45 p.m. CT) with a 15-minute maintenance window between 6:45 p.m. - 7:00 p.m. ET (5:45 p.m. - 6:00 p.m. CT) Monday - Thursday. |
|
| Minimum Price Fluctuation | Outright: $5.00 per bitcoin = $0.50 per contract for premium above $2.00 per bitcoin Reduced tick and Spread: $1.00 per bitcoin = $0.10 per contract for premium less than or equal to $25.0 per bitcin |
Outright: $0.50 per ether = $0.05 per contract |
| Product Code | CME Globex: Monday Weekly: W1A-W5A Wednesday Weekly: W1C-W5C Friday Weeks 1,2,3,4: W1E-W4E Monthly: WM |
CME Globex: Monday Weekly: V1A-V5A Wednesday Weekly: V1C-V5C Friday Weeks 1,2,3,4: V1E-V4E Monthly: VM |
| Exercise Procedure | European Style (with no contrary instructions) | |
| Listing Schedule | One nearest Monday Weekly contract One nearest Wednesday Weekly contract Four nearest weekly Friday contracts of Weeks 1,2,3,4 Two nearest Monthly contracts |
|
| Minimum Block Threshold | 10 contracts | 100 contracts |
| Block Reporting Window | RTH: 5 minutes ETH/ATH: 15 minutes |
|
| Strike Price Listing Schedule | Strike listing reflects the underlying price of the token and days until expiration. View the FAQ for more information. | |
Research and analysis
Get our experts' perspectives on current trends.
More choices to manage cryptocurrency exposure
Ether futures
Larger Ether futures can help you efficiently manage exposure to the rapidly growing ether cryptocurrency.
Ether Euro futures
Sized at 50 ether per contract, Ether Euro futures offer a cost-effective new way to manage ether exposure and euro price risk in a single product.
Bitcoin futures
The first cryptocurrency contract launched at CME Group, Bitcoin futures can help you easily trade a view of bitcoin.
Bitcoin Euro futures
Sized at five bitcoin per contract, Bitcoin Euro futures offer a cost-effective new way to manage bitcoin exposure and euro price risk in a single product.
Start trading today
The first step to trading futures and options at CME Group is finding a registered futures broker to maintain your account. Below is a list of brokers that offer Micro Bitcoin and Micro Ether futures and options. View the expanded list here.
Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, and foreign exchange around the clock in over 135 markets.
NinjaTrader provides award-winning trading software and brokerage services to active traders, supporting 100,000+ users around the globe & 600+ professional app developers.
Tradovate combines brokerage and proprietary trading technology into a single service and offers it through commission-free membership plans and a modern, cloud-based platform.
TradeStation offers the ultimate online trading experience across several asset classes for self-directed traders and investors who want to claim their financial edge.
TD Ameritrade offers clients a broad array of futures trading tools and resources-all for free (contact, exchange and regulatory fees will apply to futures trades).
E*TRADE is a leading online financial services firm that specializes in a first-class experience for the digitally inclined investor and trader, backed by personal professional guidance.
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