Exchange operator CME said on Thursday it will launch 11 new futures indexes that will track the most popular altcoin projects, including core products such as Cardano and Solana. The indexes are developed in partnership with the crypto index operator CF Benchmarks and will be released in April.
11 cryptocurrencies 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 indices in real time. It will be calculated and published daily by CF Benchmarks from April 25. Here is a list of 11 altcoin projects, including the odds:
On the Left (LEFT)
Bitcoin Cash (BCH)
Star Lumens (XLM)
Polka dots (DOT)
Link to the chain (LINK)
Growing Demand for Altcoin Futures
The CME press release says that the demand for altcoin projects is growing due to increased institutional interest in the cryptocurrency market. The exchange operator plans to cooperate with several major crypto exchanges, including Bitstamp, Coinbase, Gemini and Kraken, to provide data for indexes. Tim McCourt, CME’s head of equities and currency products, confirms the growing demand for pricing:
As the cryptocurrency market continues to expand, there is a growing demand for reliable, standardized cryptocurrency price information based on reliable regulated reference rates.
CME’s foray into altcoins reflects the growing demand for cryptocurrencies other than BTC and ETH seen this year. The latest bull run has shown that the largest altcoin projects are significantly ahead of their more reputable counterparts. Major altcoin trading models, such as large transactions, are generating growing institutional interest. Several other asset managers in the US have also launched altcoin-related products for investors. As Somagnews reported, Grayscale recently launched a fund of smart contracts without ETH, consisting entirely of altcoins, and Coinshares Solana launched tracking of ATP products.