CME CF Bitcoin Volatility Indices

Get a clear view on forward-looking bitcoin volatility

Robust methodology

Calculated by applying a standard variance swap pricing model to isolate pure volatility exposure.

Transparent pricing source

Based on the combined data from our CFTC-regulated Bitcoin and Micro Bitcoin options order book. 

Reliable benchmarks

Real-Time Indices are published every second during CME Group trading days, and Settlement Price is published once per trading day.

Track market sentiment and forward-looking implied volatility with the CME CF Bitcoin Volatility Indices (BVX and BVXS), derived from CME Group options market data.

View index prices

BVX and BVXS are reliable, regulated benchmarks that measure market expectations of 30-day volatility to help participants generate actionable insights and navigate risk.

Understanding CME CF Bitcoin Volatility Indices

Watch how to measure the market's expectation of 30-day volatility in bitcoin, based on real-time order book data from Bitcoin and Micro Bitcoin options.

About CME CF Bitcoin Volatility Indices

Real-Time (BVX)

Once a second benchmark that measures the 30-day constant maturity implied volatility of bitcoin using a standard variance swap pricing approach.

Settlement (BVXS)

Once a day benchmark that is calculated as the average of six five-minute partitions, ensuring a smooth and replicable settlement rate.

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