[DigitalToday Yoonseo Lee] Global derivatives exchange CME Group will launch an index futures product that bundles seven cryptocurrencies, including bitcoin, ether, solana and XRP, into a single contract on June 8.

According to blockchain outlet Cointelegraph, the product is Nasdaq CME Crypto Index futures, designed to provide simultaneous exposure to multiple digital assets in a regulated market.

The new index futures include bitcoin (BTC), ether (ETH), solana (SOL), XRP, cardano (ADA), chainlink (LINK) and stellar (XLM). It is built on a market-cap weighted methodology. At expiry, it will be cash-settled using the index reference price. CME and Nasdaq said the index is designed to measure the performance of the largest and most actively traded cryptocurrencies by market value.

The contracts will come in two types, standard and micro. The structure targets institutions as well as participants seeking smaller contract sizes. For CME, it is also its first cryptocurrency futures product based on a market-cap weighted approach.

The launch aligns with a trend of expanding regulated cryptocurrency derivatives. CME said average daily volume in its cryptocurrency derivatives has risen 43 percent so far this year. It said the increase reflects growing institutional participation in regulated crypto markets. Earlier this month, CME also introduced bitcoin volatility futures that track the expected 30-day volatility of bitcoin.

Other exchanges and platforms are also expanding derivatives offerings. Kraken in February introduced tokenised stocks and commodity-based perpetual contracts, and Coinbase in March launched U.S. stock- and index-based perpetual futures for users outside the United States. Blockchain.com in April began supporting perpetual futures trading from a self-custody wallet through Hyperliquid.

Prediction market platforms are also expanding into crypto derivatives. Kalshi is reportedly preparing to enter the cryptocurrency perpetual futures market. There is talk it could expand beyond event-based contracts into the leveraged digital asset market.

U.S. retail investors, however, still cannot access most cryptocurrency perpetual futures products. That is because regulatory uncertainty has pushed a significant part of the related market overseas. According to derivatives publication FOW, U.S. Commodity Futures Trading Commission (CFTC) Commissioner Michael Selig said in March that he is pushing for a plan to allow "true perpetual futures" in the United States, and that the launch timing could be around a month away.

CME's index futures launch is therefore seen as a move to broaden regulated cryptocurrency derivatives, which had been centred on single-name spot products, into index-based products. Because it is a cash-settled product that bundles several major cryptocurrencies at once, it is expected to test how far the institution-led regulated market will extend in terms of asset coverage.

One index. Two contracts. Seven cryptocurrencies. @Nasdaq CME Crypto Index futures will be available in larger and Micro sizes on June 8.* ↪️https://t.co/ta9FyUafGn pic.twitter.com/IxVAN946L9