Exchange operator CME said on Thursday it will launch 11 new futures indexes that will track the most popular altcoin projects, including core products like Cardano and Solana. The indices are in partnership with crypto index operator CF Benchmarks and will be released in April.
11 cryptocurrencies are added to the CME list
CME Group, one of the world’s leading derivatives exchanges, and CF Benchmarks, a leading provider of cryptocurrency benchmarks, today announced plans to launch 11 new cryptocurrency benchmarks and real-time indices. they announced. It will be calculated and published daily by CF Benchmarks from April 25th. List of 11 altcoin projects including rates:
- Algorand (ALGO)
- Cosmos (ATOM)
- Solana (SOL)
- Bitcoin Cash (BCH) )
- Litecoin (LTC)
- Stellar Lumens (XLM)
- Cardano (ADA)
- Polkadot (DOT)
- Chainlink ( LINK)
- Polygon (MATIC)
- Uniswap (UNI)
Rising demand for altcoin futures
CME said in a press release that demand for altcoin projects is increasing due to increased institutional interest in the crypto market. The exchange operator plans to collaborate with several major crypto exchanges, including Bitstamp, Coinbase, Gemini, and Kraken, to provide data for indices. Tim McCourt, CME’s head of stock and FX products, confirms the growing demand for pricing:
As the cryptocurrency market continues to expand, there is a growing demand for reliable, standardized cryptocurrency pricing information based on robust, regulated reference rates. .
CME’s entry into altcoins reflects the growing demand for non-BTC and ETH cryptocurrencies seen this year. The latest bull run has seen the biggest altcoin projects vastly outpace their more established peers. Trading patterns in major altcoins, such as large transactions, show increasing institutional interest. Several other US asset managers have also launched altcoin-related products for investors. As quoted by cryptokoin.com, Grayscale recently launched a non-ETH smart contracts fund made entirely of altcoins, while Coinshares Solana launched its ATP product tracking staking.
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