The world's leading derivatives marketplace, CME, has announced plans to debut Bitcoin volatility futures on June 1, pending regulatory approval. Unlike traditional bitcoin futures, these contracts will not directly track the cryptocurrency's price but instead refer to the CME CF Bitcoin Volatility Index (BVX), which represents the market's expectations for bitcoin volatility over the next four weeks. The new contracts will allow traders to bet on whether bitcoin markets will become more chaotic or more stable, without necessarily predicting a rise or decrease in prices. The move is seen as a significant step towards managing risk beyond price direction into volatility itself, according to Sam Gaer, chief investment officer of Monarq Asset Management's Directional Fund.