We’re excited to announce that BlockFi can now act as a liquidity provider for clients trading Bitcoin futures and options blocks on the Chicago Mercantile Exchange (CME), which will offer new opportunities for institutional investors to manage cryptocurrency risk and improve market efficiency.
Deep liquid bitcoin futures and options markets at CME allow investors to hedge bitcoin exposure or harness its performance.
“It’s an incredibly exciting time for the cryptocurrency sector, with institutional adoption and bullish sentiment growing steadily,” said Zac Prince, CEO and Co-Founder of BlockFi. “We’re thrilled to announce our partnership with CME, which helps facilitate financing efficiency for institutional market participants.”
BlockFi’s global coverage aligns with CME Group’s model creating a seamless network for trading.
Benefits of using CME bitcoin futures and options include:
- Efficient price discovery in transparent futures markets.
- Save on potential margin offsets between Bitcoin futures and options on futures.
- Expanded choices for managing cryptocurrency risk with Bitcoin futures and options on futures, based on the regulated CME CF Bitcoin Reference Rate (BRR).
“BlockFi actively provides liquidity to our counterparties to take long and short positions on Bitcoin,” said BlockFi Chief Risk Officer and Head of Global Digital Markets Rene van Kesteren. “Today, we can negotiate and submit Bitcoin futures and options block trades for clearing via CME Clearing, which represents a critical step in bitcoin’s advancement with institutional investors.”
Rates for BlockFi products are subject to change. Digital currency is not legal tender, is not backed by the government, and BIA accounts are not subject to FDIC or SIPC protections. Crypto assets are deposited into an account with Gemini or BitGo, our primary custodians and licensed depository trusts. For more information, please see BlockFi’s Terms of Service.
Founded in 2017 by Zac Prince and Flori Marquez, BlockFi was created with the goal of providing credit services to markets with limited access to financial products. Bridging the gap between the worlds of traditional finance and blockchain technology, BlockFi Institutional Services provides lending and borrowing of cryptocurrencies, stablecoins, and US dollars, powered by our retail cryptocurrency balance. We can customize our lending products for each client’s specific business strategy, and are constantly evolving our services to address any future needs that might arise. BlockFi is backed by leading institutional investors and operates with a focus on compliance with U.S. laws and regulations. This press release is not a commitment to make a loan and loans may be subject to credit approval. Loan products and services are subject to change. Learn more at BlockFi.com.
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