CME Rolls Out Cash-Settled Crypto Index Futures Linked to BTC and Seven Other Tokens
CME Group has introduced a new cryptocurrency index futures product that gives investors exposure to eight major digital assets through a single regulated, cash-settled contract, without requiring ownership of the underlying tokens, CoinDesk reported.
The product began trading on June 8, and CME confirmed the launch on June 9. The contracts reference the Nasdaq CME Crypto Settlement Price Index, a market-cap-weighted benchmark jointly developed by Nasdaq and CME. The index currently includes BTC, BCH, ETH, SOL, XRP, ADA, LINK, and XLM.
The standard contract trades under the code NCI and is sized at $10 per index point. The micro contract, MCI, is $1 per index point. Unlike single-asset crypto futures, the index futures track a basket of tokens, allowing institutions, advisors, and other market participants to manage broader crypto-market exposure with one instrument.
The contracts settle in cash at expiration, with counterparties paying the difference based on the index’s price movement rather than delivering or receiving any cryptocurrency. CME said the structure reduces operational demands tied to direct token ownership, custody, and transfers, and aligns more closely with established practices in regulated derivatives markets.
Bitcoin and Ethereum account for the largest weights in the index, while SOL, XRP, ADA, LINK, XLM, and BCH broaden exposure across areas such as payment networks, smart-contract platforms, and on-chain data services.
CME has been steadily expanding its crypto derivatives lineup. The exchange has previously launched futures tied to Bitcoin, Ethereum, and other altcoins, and introduced Bitcoin volatility futures in June. CME's crypto futures and options are now available for near-24/7 trading, pausing only for maintenance, bringing regulated-market access closer to the around-the-clock rhythm of crypto spot markets and extending availability over weekends.
Giovanni Vicioso, CME's head of cryptocurrency products, said demand for diversified crypto exposure is increasing and that regulated derivatives can offer clients lower-cost hedging tools. Nasdaq said interest is rising in digital-asset benchmarks backed by clear governance and transparent rules.
As a basket product, the index futures reflect the combined performance of all components. Gains in a single token may not translate into a comparable rise in the contract if declines in other constituents offset the move.
