Micro Bitcoin (MBT)

What MBT tracks

MBT is the CME Micro Bitcoin futures contract. One contract represents 0.10 bitcoin, one-fiftieth of the 5-bitcoin standard Bitcoin futures contract (BTC). It is cash-settled to the CME CF Bitcoin Reference Rate, so no bitcoin changes hands.

Bitcoin is highly volatile. Prices can move many percent in a day, and large gaps can happen at any hour. Since May 29, 2026, CME crypto futures trade 24/7 on CME Globex apart from short maintenance windows, so positions can move while you sleep or on weekends. Treat MBT as a high-risk contract even though it is small.

MBT contract specifications

Specifications come from CME Group: CME Rulebook Chapter 348, CME Micro Bitcoin fact card, CME 24/7 trading, CME cryptocurrency futures FAQ. CME can change trading hours, listed months and other terms, and holiday schedules differ, so confirm the details on CME Group's site before you trade.

What moves MBT

Several forces tend to drive MBT prices. None of them predicts direction on its own, and they often pull in different ways at the same time.

• Market sentiment and flows. Bitcoin has no earnings or coupons, so supply and demand from investors drive the price, including flows into and out of bitcoin funds.
• Regulation and policy. Rules for crypto trading, custody and taxation in major economies can move prices.
• Interest rates and risk appetite. Bitcoin has often traded like a high-risk asset, falling when investors pull back from risk.
• Industry events. Problems at large crypto firms, security breaches and network upgrades can cause sudden moves.
• Leverage in crypto markets. Forced selling or buying from leveraged positions elsewhere can make moves bigger.

Example P&L math

Say bitcoin rises by $1,000 while you hold one long MBT contract. That is 200 ticks of $5, each worth $0.50:

• 200 ticks × $0.50 = $100 per contract.
• A short position would lose $100. Moves of several thousand dollars in bitcoin can happen in a single day, so the dollar swings on a few contracts add up quickly.
• The standard Bitcoin futures contract (BTC) covers 5 bitcoin, so the same $1,000 move is worth $5,000 per BTC contract, 50 times as much as MBT.

These figures exclude commissions, exchange fees and slippage. Those costs shrink a winning trade and add to a losing one.

Our tick value calculator and position size calculator currently cover the original 16 contracts on FuturesPro and do not include MBT yet. You can still do the math by hand using the tick value and point value above.

Margin

CME Group sets minimum performance bonds (margins) for every contract, and each broker then sets its own requirement, which can be higher. Many brokers also offer lower day-trading margins for positions closed before the session ends. These figures change often, especially when markets get volatile, so we do not quote a number here. Check your broker's current margin page before you trade, and compare brokers on our futures brokers page. Remember that margin is not the most you can lose. Losses on a futures position can exceed the margin you deposit.

Micro Bitcoin vs standard Bitcoin futures

MBT is the smaller of CME's two main bitcoin futures. It suits traders who want regulated, cash-settled bitcoin exposure in small steps, or who want to hedge a modest bitcoin holding. The standard BTC contract is 50 times larger and is mainly used by institutions. Even at 0.10 bitcoin, MBT can produce large dollar swings because bitcoin itself moves so much. Some brokers and prop firms restrict crypto futures or do not offer them, so check before you plan a strategy around MBT.

Position sizing

A common approach is to decide how many dollars you are willing to lose on a trade, then work out how many contracts fit. For example, with $200 of planned risk and a $500 stop in bitcoin terms on MBT, each contract risks $50, so 4 contracts fit within that limit.

This example ignores commissions, fees and slippage, which make real losses larger. Stops can also fill worse than planned in fast markets.

Expiry and rolling

MBT is cash-settled, so there is no physical delivery. If you hold to the end, your position closes at the final settlement price. Most active traders still roll to the next contract month a few days before expiry, when trading activity moves to the new month. Check the CME calendar for exact dates each month.

Related contracts

• Micro E-mini S&P 500 (MES)
• Micro E-mini Nasdaq-100 (MNQ)
• Micro Gold (MGC)
• Japanese Yen (6J)

See every contract we cover on the futures contracts page.

Frequently asked questions

What is the tick value of MBT?

One minimum tick on MBT is $5.00 per bitcoin, worth $0.50 per contract. The point value is $0.10 per $1.00 move in bitcoin ($100 per $1,000).

What are the trading hours for MBT?

Trades 24/7 on CME Globex since May 29, 2026, except maintenance windows Monday to Friday 5:00 to 5:02 p.m. ET and Saturday 3:00 to 5:00 a.m. ET. Trades from Friday evening to Sunday evening carry the next business day's trade date. Holiday hours differ, so check CME Group's holiday calendar.

Is MBT cash-settled or physically delivered?

MBT is cash-settled. The last trading day rule: last Friday of the contract month, with trading ending at 4:00 p.m. London time. If that Friday is not a business day in both the UK and the US, trading ends on the prior business day.

How much margin do I need to trade MBT?

Margins are set by CME and then by each broker, and they change with market conditions. Check your broker's current margin page, and see our futures brokers comparison.

Why is Micro Bitcoin considered high risk?

Bitcoin's price can rise or fall sharply in short periods, and with 24/7 trading a large move can happen when you are not watching. Futures are leveraged, so losses can exceed your deposit. CME also uses dynamic price limits on crypto futures, but they do not prevent large losses.