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Last Updated:  
February 20, 2026
4 mins

CME to Launch 24/7 Crypto Futures

Crypto remains rangebound, with BTC near $68K and ETH below $2,000, while majors are slightly higher with SOL leading. Options markets are unchanged, with BTC implied vol below 50%, ETH around 62% to 68%, and a continued premium for puts. ETF flows are still a drag, with spot Bitcoin ETFs -$165.8M and Ether ETFs -$130.1M, leaving the average BTC ETF holder down about 20% versus an $84K cost basis. Geopolitical risk capped broader risk appetite as CME outlined 24/7 crypto derivatives trading from May 29 pending review.

Find out our latest reports, listed below:

Market Snapshot: Overnight Moves

Daily Updates:

  • It’s been more of the same sideways slog in crypto markets over the past 24 hours, with BTC currently settling around $68K and ETH still trading under $2,000. 
  • Blue-chip altcoins are up slightly over the same period — XRP is up 0.78%, SOL is up 2.93% while DOGE trades 1.55% higher. 
  • In options markets we also see more of the status quo. Implied volatility is compressed under 50% for all BTC maturities and between 62% and 68% for ETH, while traders are still positioned defensively with a premium towards put options.
  • As BTC consolidates in this $65K-70K region, the average ETF holder’s position is underwater by around 20%, given that the average cost basis is just under $84K. 
  • Spot Bitcoin ETFs saw their third consecutive day of outflows yesterday (-$165.8M) while exchange traded funds tracking Ether sold $130.1M worth of the token also. 
  • Geopolitical tensions also weighed on risk sentiment yesterday, with the prospect of a US attack on Iran still on the table over ongoing nuclear program negotiations. 
  • President Trump told reporters aboard Air Force One yesterday that “We’re either going to get a deal, or it’s going to be unfortunate for them” and that 10 to 15 days is “pretty much” the “maximum” time he will allocate to negotiations between the two countries.  
  • Those worries kept a lid on any rally in the US stock market, with all three major indexes — the S&P 500, Nasdaq-100 and Dow Jones all closing the day in the red. 
  • US treasury yields were largely unchanged in yesterday’s session, while gold is holding up just above $5,000 per ounce. 
  • CME Group has announced the launch of 24/7 trading for cryptocurrency futures and options beginning Friday, May 29 at 4:00 pm CT, subject to regulatory review. 
  • Trading will run continuously on CME Globex, with a minimum two-hour maintenance window each weekend, and any positions traded from Friday evening through Sunday evening will be dated and processed on the next business day for clearing, settlement, and regulatory reporting.
  • This comes as CME Group’s crypto futures and options have continued to achieve record trading volumes in 2026.
  • As digital asset treasury companies come under the spotlight, Metaplanet CEO Simon Gerovich has posted a statement on X, rejecting claims from “anonymous accounts” that the firm misled investors about its Bitcoin purchases, derivatives strategy, and BTC-backed borrowing disclosures.
  • He said all major transactions were announced promptly, arguing critics are misreading financial statements and misunderstanding accounting-driven losses. 
  • Gerovich also defended the company’s options strategy and borrowing structure as shareholder-friendly, pointing to strong revenue and operating profit despite a net loss tied to Bitcoin’s price decline.

This Week’s Calendar:

Charts of the Day:

Figure 1. Block Scholes BTC Risk-Appetite Index (white, left-hand axis) and BTC spot price (orange, right-hand axis)
Figure 2. Block Scholes ETH Risk-Appetite Index (white, left-hand axis) and ETH spot price (purple, right-hand axis)
Figure 3. BTC at-the-money implied volatility across selected tenors. Source: Deribit, Block Scholes
Figure 4. ETH at-the-money implied volatility across selected tenors. Source: Deribit, Block Scholes
Figure 5. BTC 25-delta put-call skew ratio across selected tenors. Source: Deribit, Block Scholes
Figure 6. ETH 25-delta put-call skew ratio across selected tenors. Source: Deribit, Block Scholes
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Find out our latest reports, listed below:

Daily Updates:

  • It’s been more of the same sideways slog in crypto markets over the past 24 hours, with BTC currently settling around $68K and ETH still trading under $2,000. 
  • Blue-chip altcoins are up slightly over the same period — XRP is up 0.78%, SOL is up 2.93% while DOGE trades 1.55% higher. 
  • In options markets we also see more of the status quo. Implied volatility is compressed under 50% for all BTC maturities and between 62% and 68% for ETH, while traders are still positioned defensively with a premium towards put options.

Market Snapshot: Overnight Moves

Find out our latest reports, listed below:

Daily Updates:

  • It’s been more of the same sideways slog in crypto markets over the past 24 hours, with BTC currently settling around $68K and ETH still trading under $2,000. 
  • Blue-chip altcoins are up slightly over the same period — XRP is up 0.78%, SOL is up 2.93% while DOGE trades 1.55% higher. 
  • In options markets we also see more of the status quo. Implied volatility is compressed under 50% for all BTC maturities and between 62% and 68% for ETH, while traders are still positioned defensively with a premium towards put options.

Market Snapshot: Overnight Moves