Factor Friday - June 5, 2026
This week was about damage, not direction. Broad beta fell 12.76% in its worst week of the year, deepening a 36% drawdown, and the decline was top-heavy: Size led as the largest, most defensive names fell hardest. Selection cushioned an index in freefall as the flight to liquidity intensified.
Mark Pilipczuk
Sticky Inflation, a Hawkish Fed, and a Broad Pullback
Risk appetite faded in May as a hawkish Fed and reaccelerating 3.8% inflation ended April's rebound. Every CF Benchmarks index posted losses, spot Bitcoin ETFs shed roughly $2.4bn in their largest 2026 outflow, and implied volatility slid to fresh lows.
Gabriel Selby
Changes to the Token Market Price Benchmarks Series - Market Prices – 02 June 2026
Changes to the Token Market Price Benchmarks Series - Market Prices – 02 June 2026.
CF Benchmarks
Addition of Constituent Exchanges for the CME CF Cryptocurrency Pricing Products
The Administrator announces the addition of CME CF Constituent Exchanges for the CME CF Cryptocurrency Pricing Products from June 08th, 2026.
CF Benchmarks
Correction to: Addition of Tron-Dollar and Zcash-Dollar Settlement Prices and Spot Rate to the CF Digital Asset Index Family
This item corrects Addition of Tron-Dollar, and Zcash-Dollar Settlement Prices and Spot Rate to the CF Digital Asset Index Family, published on April 28th, 2026.
CF Benchmarks
An Orderly De-Risking: Defense Leads, DeFi Bears the Brunt
An orderly de-risking, not a capitulation. Digital assets fell broadly but in a tight band, with defensive factors leading and the stress concentrated in DeFi. Volatility stayed calm, and the move in Bitcoin funding looked more like a positioning unwind than a change in regime.
Gabriel Selby
Amendment of the Index Spacing Parameter from Static to Dynamic for the CF Spot Rates
The Administrator announces the amendment of the Index Spacing Parameter from Static to Dynamic across all CF Spot Rates.
CF Benchmarks
Amendment of the Index Spacing Parameter from Static to Dynamic for the CME CF Cryptocurrency Real Time Indices
The Administrator announces the amendment of the Index Spacing Parameter from Static to Dynamic across all CME CF Cryptocurrency Real Time Indices.
CF Benchmarks
Amendment of the Potentially Erroneous Data Parameter for CME CF Near Protocol-Dollar Indices
Amendment of the Potentially Erroneous Data Parameter for CME CF Near Protocol-Dollar Indices
CF Benchmarks
Announcement of Changes to the Token Market Price Benchmarks Series - Methodology Guide
The Administrator is announcing changes to the Token Market Price Benchmarks - Methodology Guide.
CF Benchmarks
Changes to the Token Market Price Benchmarks Series (TMP2) - Market Prices – 26 April 2026
The Administrator has confirmed changes to the Token Market Price Family (TMP2) for the period: April 29th, 2026 to May 26th, 2026
CF Benchmarks
Factor Friday - May 29, 2026
The market this week was defined by dispersion over direction. With the market still mired in its 2026 drawdown, returns hinged on factor selection. Growth-oriented, adoption-driven names led while illiquid names underperformed.
Mark Pilipczuk
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