CME launches futures contracts on two altcoins

Bitcoin Cash (BCH) and Uniswap (UNI), two well-known altcoins of the crypto world, were opened for trading on the Chicago Mercantile Exchange (CME), which is considered the world's largest futures and options exchange. In the statement made by the stock exchange today, it was stated that the first transactions in the new contracts were carried out by corporate crypto companies FalconX and GSR. As you may remember, CME Group announced in September that futures contracts for two altcoins would be launched.

It is important in terms of corporate interest and trust…

As it is known, futures and options transactions in every asset are generally carried out by large institutions. Therefore, opening an asset to futures trading on one of the world's largest stock exchanges is also of great importance for the arrival of corporates.

“Not just Bitcoin and Ether…”

Griffin Sears, Head of Derivatives at FalconX, said in his statement on the subject that institutional investors are no longer limited to just Bitcoin and Ether in the crypto world:

"The use of Bitcoin Cash in payment systems and Uniswap in decentralized finance is increasing. I think that the trading of these two altcoins in a regulated market such as CME will give institutional investors great confidence in terms of hedging. Now, large investors are not limited to Bitcoin and Ether in futures transactions."

Apart from Bitcoin and Ether, CME also includes XRP, Solana, Cardano, Chainlink, Stellar, Avalanche and Sui. Therefore, the number of altcoins (except Ether) with futures contracts on the exchange increased to 9.