The Chicago Mercantile Exchange (CME) is home to several cryptocurrency derivatives, including Bitcoin (BTC), Ethereum (ETH), and others.
The CME's futures contracts are cash-settled based on regulated reference rates, such as the CME CF Bitcoin Reference Rate (BRR) and ETHUSD Reference Rate (ETHUSD_RR).
However, a unique phenomenon known as 'CME gaps' can occur when the crypto market continues to rise or fall during the weekend, leaving a gap between the closing price of the CME on Friday and the opening price on Monday.
The article notes that these gaps usually get filled eventually, but the time it takes can be significant.
The CME is set to launch 24/7 trading for all crypto futures and options starting May 29, 2026, pending regulatory approval. This change could potentially eliminate the occurrence of CME gaps.