BlockFi Providing Liquidity For CME Bitcoin Futures

BlockFi Providing Liquidity For CME Bitcoin Futures

Bitcoin lending and savings firm BlockFi can now act as a liquidity provider for clients trading Bitcoin futures and options on the Chicago Mercantile Exchange (CME).

According to the announcement published 30 October, BlockFi aims to provide new opportunities for institutional investors to gain Bitcoin (BTC) exposure.

The partnership marks another step towards increasing Bitcoin’s (BTC) presence in traditional markets. And increasing liquidity will likely generate more interest from institutional investors, while also help legitimizing Bitcoin futures as a hedging option.

‘BlockFi actively provides liquidity to our counterparties to take long and short positions on Bitcoin,’ said BlockFi Chief Risk Officer Rene van Kesteren on the partnership. ‘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.’

It’s clearly a step in the right direction for Bitcoin and the digital asset space at large. And the fact CME partnered with BlockFi of all the liquidity providers, enhances BlockFi’s brand and could lead to bigger investment as BlockFi looks to expand. Read More