CME Group Announces Plans to Launch Spot Bitcoin Trading

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CME Group, the world’s largest financial derivatives exchange, is planning to introduce Bitcoin spot trading alongside its existing futures product, according to a report by the Financial Times.

Sources cited by the publication indicate that the Chicago-based company is currently in discussions with traders who are interested in conducting cryptocurrency transactions on a regulated market. However, the plan is not yet finalized.

Launching Bitcoin trading on CME would enable traders to profit from differences between futures prices and spot quotes for the underlying asset, the Financial Times noted.

If implemented, this initiative would provide Wall Street firms with another avenue to access digital gold, complementing existing options such as exchange-traded funds (ETFs).

Since their launch in January, 11 spot-based Bitcoin ETFs have amassed $12.15 billion in institutional capital. Recently, it was reported that institutions like the Wisconsin Investment Council ($163 million) and the hedge fund Millennium Management ($1.94 billion) have invested in these products.