just now
Derivatives marketplace CME Group and regulated cryptocurrency benchmark administrator CF Benchmarks will introduce two new bitcoin volatility indices on 2 December: the CME CF Bitcoin Volatility Index – Real Time (BVX) and the CME CF Bitcoin Volatility Index – Settlement (BVXS).
The indices provide forward-looking, market-derived measures of expected bitcoin price volatility over a 30-day constant-maturity horizon. Although the indices are not tradable futures products, they reflect the implied volatility embedded in CME Group’s options on Bitcoin futures and Micro Bitcoin futures — one of the most liquid regulated crypto options markets globally.
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, said the new indices build on the strong institutional adoption of the firm’s Bitcoin options.
With nearly $46 billion in equivalent notional value traded in 2025, our Bitcoin options now serve as the benchmark for gauging how the market views overall bitcoin volatility. As the crypto market continues to mature, we're seeing more and more institutional investors enter the space who are looking for sophisticated tools to meet their investing needs – and they're looking to manage their risk with trusted, regulated venues like CME Group. The BVX and BVSX Indices are valuable tools for market participants to navigate shifting market conditions and sentiment so they can better calibrate their trading strategies.
Giovanni Vicioso, Global Head of Cryptocurrency Products, CME Group
Sui Chung, Chief Executive Officer of CF Benchmarks, said the launches mark an important development for the wider crypto asset class.
The launch of the CME CF Bitcoin Volatility Indices is a major milestone for the crypto asset class. The index gives investors a measure of bitcoin volatility expectations, a vital indicator of institutional sentiment towards bitcoin, as well as the broader asset class. Liquid benchmarks are vital market infrastructure, and the launch of these indices underscores the deepening maturity of the bitcoin options market, and the more sophisticated tools investors now have available to manage and tailor their risk exposures.
Sui Chung, CEO, CF Benchmarks
The BVX will publish every second between 7 a.m. and 4 p.m. Central Time, while the BVXS will publish daily at 4 p.m. London time, aligning with global index-calculation conventions.
Found this interesting? Become a member of LiquidityFinder and get daily industry news direct to your inbox — join here.
