CME to Launch Nasdaq Crypto Index Futures on June 8

CME Group plans to list Nasdaq CME Crypto Index futures on June 8, subject to regulatory approval. The exchange intends to offer cash-settled contracts tied to a Nasdaq index that tracks a basket of major cryptocurrencies.

Contracts will be available in micro-sized and larger-sized versions. They will settle financially to the Nasdaq CME Crypto Settlement Price Index at expiration and will not require delivery of individual digital assets.

CME Group described the contracts as market-cap weighted and its first product using that structure. The company stated the contracts are designed to give traders tools for hedging or for gaining regulated exposure to multiple crypto assets through a single instrument, and that the contracts will be listed on the CME under the exchange’s rulebook.

The index is heavily weighted to bitcoin and ether. As of March 31, bitcoin held 76.96% of the index, ether 12.68% and XRP 5.80%. Other constituents were Solana at 3.23%, Cardano at 0.65%, Chainlink at 0.37% and Stellar at 0.30%. Those weights determine how moves in the underlying index translate into futures prices.

“Investors are seeking benchmarks that reflect the broader market and follow familiar governance and transparency standards,” commented Sean Wasserman, Head of Index Product Management at Nasdaq.

Final approval from relevant regulators is required before trading can begin on the planned June 8 date. CME Group noted trading and listing remain subject to regulatory review.