CME Group announced a significant step towards the cryptocurrency derivatives market. The company stated that, as of May 29th, cryptocurrency futures and options products will be available for trading 24 hours a day, seven days a week.
This will allow investors to trade continuously without being limited by traditional market hours.
CME Group also announced the launch of new Avalanche ($AVAX) and Sui ($SUI) futures contracts. The first transactions were executed as a block transaction between FalconX and G-20 Group.
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, said that the early interest seen in $AVAX and $SUI futures shows that investors want to manage price risk and access new opportunities through regulated products. Vicioso noted that micro and standard-sized contract options offer investors greater flexibility and capital efficiency.
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Joshua Lim, Co-Head of Global Markets at FalconX, stated that interest in broader altcoin indexes is increasing in the crypto market, and digital asset treasuries are beginning to accumulate assets like $AVAX and $SUI on behalf of shareholders. Lim added that the new CME Group futures markets are directly responding to the demand for hedging and leverage.
*This is not investment advice.
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