The new rates will be calculated and published starting Dec. 19 and are currently not tradable futures products.
“These three new benchmarks, together with Uniswap launched earlier this year, will capture more than 40% of the total value locked in [decentralize finance] protocols on the Ethereum blockchain,” said CME Group’s head of cryptocurrency products, Giovanni Vicioso.
The launch comes as interest in decentralized finance (DeFi) and associated blockchain-based projects continues to grow and cryptocurrency traders are increasingly exploring DeFi protocols, Vicioso told CoinDesk, even as the industry recently took another hit with the collapse of crypto exchange FTX.
"We continue to take a cautious, careful approach to this market," Vicious said. "Exactly how it will develop is yet to be seen."
Initial pricing data will come from cryptocurrency exchanges Bitstamp, Coinbase, Gemini, itBit, Kraken and LMAX Digital, with each token trading on at least two of these platforms.
CoinDesk is the owner of CoinDesk Indices, a competitor of CF Benchmarks.
Update (Dec. 1, 2022, 18:10 UTC): Adds comments from CME Group’s head of cryptocurrency products, Giovanni Vicioso.
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