Statement For Three New Altcoins From CME Group: Date Made!

Derivatives market giant CME Group announced three new altcoin is preparing to launch the reference rate.

Reference Rates for Avalanche (AVAX), Tezos (XTZ) and Filecoin (FIL) Altcoins to Be Published on CME

Avalanche (AVAX), Tezos (XTZ) and Filecoin (FIL) Reference rates for their blockchain’s native altcoins will be published on the CME from October 31st in partnership with CF Benchmarks.

The reference rates will display the US dollar price of each token and will be published at a specific hour once a day, while the corresponding real-time index will be refreshed once a second, 24 hours a day throughout the year.

Bitstamp, Coinbase, Gemini, itBit, Kraken and LMAX Digital will provide data for these benchmark rates.

According to Giovanni Vicioso, Head of Global Cryptocurrency Products at CME Group, CME CF Reference Rates and real-time indices are investable cryptocurrency will cover more than 92% of its market capitalization.

Vicioso concluded his words on the subject as follows:

“These new benchmarks will allow investors, institutions and other users to access a much wider range of cryptocurrencies through a suite of products they are already familiar with.

They are also designed to allow them to confidently and more accurately manage cryptocurrency price risk, evaluate portfolios, or create structured products such as ETFs.”

While these are benchmark rates and not tradable futures, the inclusion of new benchmark rates may indicate potential additions to crypto futures tradable on the CME.

On September 12 last month, CME expanded its range of crypto derivatives products by launching Ethereum options.

*Not investment advice.