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.
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.