CME Group launches new crypto volatility benchmarks to give institutions standardized, VIX-like insights for Bitcoin markets.
CME Group has unveiled a new suite of cryptocurrency benchmarks aimed at bringing familiar pricing standards to institutional traders. The initiative extends the exchange’s mission as a premier provider of regulated digital asset data. Moreover, it does add measures of volatility that mimic the structure of traditional financial indices.
CME Expands Its Benchmark Framework for Crypto Assets
The launch introduces the CME CF Cryptocurrency Benchmarks, which now cover major cryptocurrencies such as Bitcoin, Ether, Solana, and XRP. These benchmarks cater for institutions looking for transparent reference data for trading and risk management. Industry blogs mention how there is an ever-increasing demand for standardized information as professional investors are increasing their exposure to crypto markets. Additionally, the expansion strengthens the influence of CME on the pricing of digital assets.
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Background sources draw attention to the fact that CME already operates one of the most active regulated Bitcoin derivatives markets. Therefore, the company is looking forward to offering market institutional clients tools they are accustomed to, which bridge the traditional systems with crypto pricing. The benchmarks also help firms incorporate digital assets into current operational frameworks.
Measure bitcoin’s expected market risk in real-time. 💥
The CME CF Volatility Benchmarks are now available, providing the first forward-looking implied volatility indices derived from our regulated options market. ➡️ https://t.co/cPVRnSbwed pic.twitter.com/nEgZDXNiLQ
— CME Group (@CMEGroup) December 2, 2025
A key component of the rollout is the CME CF Bitcoin Volatility Benchmarks. These are the Bitcoin Volatility Index – Real Time (BVX) and Bitcoin Volatility Index – Settlement (BVXS). Both became available on the 2nd of December, 2025. They monitor implied volatility, Bitcoin and Micro Bitcoin Futures options. Consequently, they act as a crypto-market version of the VIX by displaying the expected 30-day movement of prices.
CME says options tied to its Bitcoin futures saw a total notional value of almost $46 billion traded in 2025. Due to this scale, the data behind the indices is based on deep and active order flow. Observers say this contributes to increased accuracy and institutional confidence. Furthermore, the structure is similar to that used in established markets, which helps to avoid operational friction.
CME Bolsters Crypto Risk Management with BVX Launch
Analysts say that the volatility indexes are crucial in creating hedging strategies. They also help firms to develop systematic approaches to risk. Commentators add that institutions usually use such benchmarks in setting options prices or when adjusting exposure. Therefore, the adding of BVX and BVXS fulfills a long-standing need for crypto-aligned volatility measures.
Experts further explain that implied volatility is not historical movement, but the expectations. Because the indices have real market pricing using regulated contracts, they provide forward-looking information with an open methodology. Industry comment highlights the fact that this enhances risk controls, particularly for businesses that have stringent compliance requirements.
The indices are not products that can be traded. Instead, they serve as standardized reference points for options pricing and strategies that are built around volatility. This design abides by practices that are being used across established markets. As a result, institutions can add volatility from crypto to models without implementing unfamiliar systems. Moreover, better volatility data may lead to less uncertainty and less disorderly liquidation in times of stress.
By providing these benchmarks, CME enhances the connection between the traditional regulated derivatives markets and digital assets. The move also supports wider engagement on the institutional front as the firms are seeking solid tools to manage exposure in the emerging markets across the board.
