CME Makes Uniswap Futures Covering 10,000 Units and Bitcoin Cash Futures Available
Key Facts
CME Group has made Uniswap and Bitcoin Cash futures available for trading, including a standard Uniswap contract covering 10,000 units, according to the group's official product page. The products became available following an earlier announcement that set October 19 as the target launch date, subject to regulatory review, according to the group's statement on its plans to expand cryptocurrency derivatives. The group attributed the expansion to "strong client demand" for institutional-grade risk management tools in highly liquid altcoin markets. That explanation appeared in the planned launch announcement, which outlined the addition of both assets to its cryptocurrency product suite. The available products include standard and micro contracts for both Uniswap and Bitcoin Cash, according to specifications published by the group on its launch page.
For Uniswap futures, the group designated UNI as the trading code for the standard contract, alongside its announced size in the product specifications. The micro contract covers 1,000 units of the same token and trades under the code MUN, according to the official product page. Both products are based on UNI, whose governance allows holders to participate collectively in managing the Uniswap protocol, according to the protocol's developer documentation. The governance powers described in the documentation include collectively managing, upgrading and steering the protocol's future through token holders. Uniswap's documentation places this participation within the governance of the protocol itself, while CME's specifications define each futures contract's size and trading code in the derivatives market.
For Bitcoin Cash, the standard futures contract covers 250 units and carries the trading code BCA, according to the group's official specifications for the available products. The micro contract covers 25 units of Bitcoin Cash, and the group assigned it the code MCH in the list of new contracts on the launch page. CME confirmed that all new contracts are eligible for block trades, including standard and micro contracts for both assets. It also pointed to potential margin offsets against positions within its cryptocurrency product suite. The group described these offsets as available against offsetting positions within its suite, alongside block-trade eligibility among the features of the products being offered.
The expansion follows average daily volume of 174,000 contracts across CME's cryptocurrency products in September, according to the group's statement on activity for the month. The notional value corresponding to average daily volume was $8.6 billion, according to the same statement. In August, the products recorded average daily volume of 175,000 contracts, with a notional value of $7.9 billion, according to the previous month's activity statement. Average daily contract volume thus declined between August and September, while the corresponding notional trading value rose over the same period. Average open interest in cryptocurrency futures and options stood at about 264,600 contracts in the first half of 2026, according to the group's earlier expansion announcement. The notional value of that average open interest was $15.4 billion during the first half, according to figures in the announcement.
The group's standard and micro cryptocurrency futures are cash-settled based on the corresponding CME CF reference rates, according to its official explanation of how the products work. For single-asset futures and their micro counterparts, final settlement is based on the reference rate published on the contract's expiration day. The group specified 4:00 p.m. London time as the publication time for the reference rate used in that final settlement. Most CME cryptocurrency options, meanwhile, deliver into an underlying futures contract, according to the group's explanation of options on futures. Friday-expiry Bitcoin futures options are cash-settled, according to the same explanation, which distinguishes their mechanism from delivery of the underlying futures contract for most options.
On access to the products, CME said trading its cryptocurrency futures does not require a digital wallet. Traders need an account with a futures broker to access trading, according to the requirements the group sets out in its explanation of these products. The broker may be a futures commission merchant or an introducing broker, according to the account arrangements specified by the group. The account requirement relates to trading futures at CME, while UNI holders' participation in managing Uniswap concerns protocol governance, according to its developer documentation. When single-asset and micro futures expire, final settlement is tied to that day's reference rate, according to the mechanism the group has specified for these products.