Ever since BlackRock’s surprise filing to list a spot #Bitcoin #ETF, powered by our regulated CME CF Bitcoin Reference Rate - NY Variant, it's been a top talking point among institutional investors.
But given CF Benchmarks' participation in more crypto ETF filings than any other provider, we have a uniquely informed perspective on what’s likely to work and what definitely won’t.
That means it’s no exaggeration to say CFB’s CEO, Sui Chung is a true insider to BlackRock’s filing, and the applications by 3 other issuers using our benchmark.
With the SEC now officially reviewing all filings, listen in to the latest episode of the CFB Talks Digital Assets podcast with Sui as our guest, for exclusive insights:
The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.
Note: Some of the underlying instruments cited within this material may be restricted to certain customer categories in certain jurisdictions.
Factor Friday: beta faded, with the Market down -0.81%, while capital reached down the risk curve. Liquidity led at +1.36% and Size followed at +1.07%, both sign-inverted, and Downside Beta anchored the field at -2.69%. All three point risk-seeking, and selection set returns, not direction.

Mark Pilipczuk
The CF Free-Float Broad Cap Index rose 4.44% in July as Bitcoin and Ether supplied 5.07 points of a 4.44% return. Softer inflation and new Ethereum exchange-traded product access carried the large-capitalization core, while 18 of 32 constituents fell and free-float weighting produced the gain.

Mark Pilipczuk
Changes to the Token Market Price Benchmarks Series - Market Prices – 04 August 2026

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