Hedging strategies remain focused on volatility caps. Major US and Global Macro Developments In 2025 So Far “We are pleased to see such early and strong support for these new options products,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group. “These smaller sized, cash-settled contracts, with expiries available every day of the business week, will provide traders with even greater precision to manage short-term bitcoin price risk.” Institutional flows into Micro Bitcoin Futures have been steady, with asset managers citing the contract’s low notional value as ideal for precise hedging against BTC spot exposure. This has contributed to tightening bid-ask spreads.