Chicago Mercantile Exchange Group announced it will introduce options on Bitcoin Friday Futures (BFF) starting on Feb. 24, pending regulatory approval.

According to the press release, BFF was CME Group’s most successful cryptocurrency launch. More than 775,000 contracts traded since launch on Sept. 29. The average daily volume was 9,700 contracts and 44% of contracts were traded during non-U.S. hours. One contract is worth one-50th of one BTC with BFF racking up $1.63 billion in volume since launch.

These financially settled contracts will expire every day of the business week, Monday through Friday, providing traders with more risk management tools.

According to Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, these contracts will see smaller contract sizes and daily expirations and offer investors a more efficient toolset to adjust bitcoin exposure.

«We are pleased to offer these new options that provide traders with even greater precision to manage short-term bitcoin price risk, building on the success of our Bitcoin Friday futures, the smaller size of these contracts, along with daily expiries, offer market participants a capital-efficient toolset to effectively adjust their bitcoin exposure.»