Futures exchange operator CME Group plans to launch bitcoin trading, FT reports

By Thomson Reuters May 16, 2024 | 3:30 AM

(Reuters) – CME Group, the world’s largest futures exchange operator, plans to launch bitcoin trading to expand its portfolio, the Financial Times reported on Thursday.

The Chicago-headquartered exchange has been holding discussions with traders who want to buy and sell bitcoin on a regulated marketplace, the newspaper said, citing three people with direct knowledge of the talks.

However, FT said that the plan has not yet been finalised.

CME declined to comment on the report and said it does not respond to rumours or speculations.

Bitcoin hit a record high in March, fueled by investors pouring money into U.S. spot exchange-traded crypto products and the prospect that global interest rates may fall.

CME has hosted trading in bitcoin futures since 2017, making it one of the first exchanges to do so, along with rival CBOE. It also offers global benchmark products across major asset classes, including futures and options.

(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Sonia Cheema)