CME Group is expanding the use of its Basis Trade at Index Close (BTIC) functionality for Bitcoin futures, allowing traders to lock in a premium or discount to the CME CF Bitcoin Reference Rate rather than transact at an outright futures price. The structure is designed to help institutional investors, arbitrageurs and market makers manage basis risk—the difference between futures and spot prices—particularly as contracts approach expiration. BTIC is organized across regional sessions: London uses ticker BTB and the 4 p.m. Bitcoin Reference Rate (BRR), New York uses BNB and the 4 p.m. BRRNY rate, and APAC uses ABB. The minimum increment is $1 per Bitcoin on the agreed basis, while block trades in standard Bitcoin futures require at least five contracts. BTIC is unavailable on the last trade date of an expiring contract, so the August 2026 contract, BTCQ26, stops trading on August 28, 2026. By enabling large trades at a fixed spread to a benchmark calculated from major Bitcoin spot exchanges, the tool can reduce execution uncertainty, support cash-and-carry and hedging strategies, limit market impact and offer insight into carrying costs, funding rates and directional sentiment around expiration.