Mar 06, 2025
Crypto.com to be added as Constituent Exchange for CME CF Cryptocurrency Pricing Products
The Administrator announces that Crypto.com will be added as a CME CF Constituent Exchange for CME CF Bitcoin-Dollar indices, CME CF Ether-Dollar indices and CME CF Ether-Bitcoin Ratio benchmarks, from March 31st, 2025.
From approximately 06:00 London Time on March 31st, 2025, Crypto.com order data will be included as input data in the calculation of the following Real Time Indices:
- CME CF Bitcoin Real Time Index (BRTI)
- CME CF Ether-Dollar Real Time Index (ETHUSD_RTI)
- CME CF Ether-Bitcoin Real Time Index (ETHBTC_USDRTI)
From March 31st, 2025, the following Reference Rates will include transactions from Crypto.com as input data:
- CME CF Bitcoin Reference Rate (BRR)
- CME CF Bitcoin Reference Rate - New York Variant (BRRNY)
- CME CF Bitcoin Reference Rate - Asia Pacific Variant (BRRAP)
- CME CF Ether-Dollar Reference Rate (ETHUSD_RR)
- CME CF Ether-Dollar Reference Rate - New York Variant (ETHUSD_NY)
- CME CF Ether-Dollar Reference Rate - Asia Pacific Variant (ETHUSD_AP)
- CME CF Ether-Bitcoin Reference Rate (ETHBTC_USDRR)
In accordance with the Administrator's policies, the process for the addition of a new CME CF Constituent Exchange was overseen by the CME CF Cryptocurrency Pricing Products Oversight Committee. The minutes from the meeting at which oversight of the addition was conducted are available here.
Questions or queries regarding this process should be directed to [email protected].
Complaints regarding this process may be submitted confidentially by writing to [email protected].
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.
Meet the Large Cap Index DTF
The Large Cap Index DTF ($LCAP) is the first fully collateralized, token tracking the CF Large Cap (Diversified Weight) – US Index.
CF Benchmarks
Revisiting the Bitcoin Basis: How Momentum & Sentiment Impact the Structural Drivers of Basis Activity
Bitcoin’s futures basis reflects shifts in price momentum and market sentiment. Shared benchmarks between spot ETFs and CME futures contracts have enabled efficient arbitrage and driven increased institutional participation.
Mark Pilipczuk
Momentum Outperforms Following New Highs
Key takeaways: Rotation Toward Risk Dominates Factor Returns Q3 2025 extended the digital asset market’s rebound. The CF Broad Cap Index advanced 16.1%, driven by renewed momentum in large-cap assets. Momentum led factor returns (+1.9%), highlighting the continued strength of trend-following strategies amid mixed market signals. In contrast, Size (–7.3%) and Growth (–4.7%) declined as smaller-cap and high-expansion tokens lagged. Value (–2.1%) and Liquidity (–0.6%) also softened, while Downs
Mark Pilipczuk