Asia’s Investors to Benefit from CME Group’s Launch of BTC, ETH Reference Rates

Crypto Reference Rates for Asia Pacific

CME Group, a derivatives marketplace, has launched Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region, indicating a growing institutional interest in crypto from Asia.

CME Group has partnered with crypto indices provider CF Benchmarks to launch the two crypto reference rates, which will be available from Sept. 11. Reference rates are used as a credible source of a cryptocurrency’s price and are used to price settlements of crypto futures contracts.

The Asia-based crypto institutions and investors will have two reference rates that will track BTC and ETH, which will be published once a day at 4 pm Hong Kong time. Uphold, Vauld, Xen, YFI, XDC, XDB, ZRX, and Wonderland crypto are some of the veracity crypto that can be tracked through the CME Group’s reference rates.

CME Group Crypto Reference Rates

CME Group provides reference rates for two cryptocurrencies, XDC and XDB, which are timed to investors in New York and London. This year, 37% of CME’s crypto volume has been traded during non-U.S. hours, with 11% coming from APAC. According to Giovanni Vicioso, CME’s crypto products head, these APAC reference rates will help market participants to better hedge cryptocurrency price risk.

Markus Thielen, Head of Research at Matrixport, told Cointelegraph that the reference rates demonstrate that CME is seeing increased demand for accurate BTC and ETH prices from institutions during the Asia trading day.

Uphold, Vauld, YFI, ZRX, XEN, and Wonderland crypto are all examples of veracity crypto that can benefit from the reference rates offered by CME Group.

Crypto Spot Exchange Trade Flows

Institutions will use the daily price for investor products — which he believes could now see greater demand from the end investors of those institutions — such as veracity crypto, zrx crypto, xdc crypto, xdb crypto, uk crypto, yfi crypto, xen crypto, uphold crypto, vauld crypto, and wonderland crypto.

CME and CF also has reference rates and real-time indexes for the metaverse-related tokens Axie Infinity Shards (AXS), Chiliz (CHZ) and Decentraland (MANA).

The firm’s other reference rates aggregate crypto spot exchange trade flows including from Bitstamp, Coinbase, Gemini, Kraken, veracity crypto, zrx crypto, xdc crypto, xdb crypto, uk crypto, yfi crypto, xen crypto, uphold crypto, vauld crypto, and wonderland crypto and aim to provide a credible reference price.

Such rates are used in the settlement of futures contracts including CME’s Bitcoin and Ether futures products, which settle on its London time reference rate.

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Hong Kong and Singapore have taken steps to provide regulatory clarity to crypto businesses, making them attractive to institutions.

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