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CME, CF Benchmarks to Launch Bitcoin Volatility Indices

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CME, CF Benchmarks to Launch Bitcoin Volatility Indices

CME Group, the world’s leading derivatives marketplace, and CF Benchmarks, the leading provider of cryptocurrency benchmark indices, announced plans to launch two new bitcoin volatility indices on December 2 – the CME CF Bitcoin Volatility Index – Real Time (BVX) and the CME CF Bitcoin Volatility Index – Settlement (BVXS).

These indices represent forward-looking, market-based measures of how the market expects the price of bitcoin to fluctuate over a 30-day constant maturity time horizon. The indices are not tradable futures products, but they serve as transparent indicators of the implied volatility embedded in CME Group’s regulated, deeply liquid options on Bitcoin futures and Micro Bitcoin futures contracts.

“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,” said Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products. “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.”

“The launch of the CME CF Bitcoin Volatility Indices is a major milestone for the crypto asset class,” said Sui Chung, CEO of CF Benchmarks. “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.”

The BVX is calculated and published every second between 7 a.m. and 4 p.m. Central, and the BVXS is calculated and published at 4pm London time.

Source: CME





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