CME and Nasdaq debut cash-settled crypto index futures

CME Group and Nasdaq began trading Nasdaq CME Crypto Index futures on June 9. The cash-settled contracts reference the Nasdaq‑CME Crypto Settlement Price Index and cover eight tokens: bitcoin, bitcoin cash, ether, solana, XRP, cardano, chainlink and Stellar’s lumen token.

The contracts offer a regulated, financial way to gain or hedge exposure to a basket of major digital assets without taking custody of the underlying tokens. Each contract settles to the benchmark at expiration rather than delivering the tokens.

Financial settlement at expiration allows traders and institutions to use familiar derivatives tools while avoiding the operational work of crypto custody. The format can provide capital efficiency compared with holding spot assets.

Index futures apply a standard derivatives framework to multiple cryptocurrencies, enabling hedging, asset allocation and short-term positioning across a broader segment of the market than single-asset bitcoin or ether futures.

Giovanni Vicioso, global head of cryptocurrency products at CME Group, described the launch as an expansion of the firm’s regulated crypto marketplace and noted investors increasingly seek diversified exposure while retaining capital efficiency and the transparency of regulated futures.

Sean Wasserman, head of index product management at Nasdaq, observed demand is rising for crypto benchmarks with governance and transparency similar to other asset classes and said futures linked to such benchmarks can support market development.

Mick McLaughlin, U.S. CEO and head of global distribution at Hashdex Asset Management, welcomed the contracts and suggested they could help investors and advisers manage and hedge crypto portfolios through a regulated, index-oriented structure.

CME supplies futures trading and clearing, while Nasdaq provides index construction and governance for the settlement reference. Market participants can use the new contracts to hedge diversified exposures, adjust overall crypto allocations or take tactical positions that track wider market moves.