CME Group Expands Regulated Cryptocurrency Benchmarks with New Uniswap Rate Amid Market Volatility
Chicago-based CME Group, in partnership with CF Benchmarks, has bolstered its suite of regulated cryptocurrency pricing benchmarks by introducing the CME CF Uniswap-Dollar Reference Rate – New York Variant (UNIUSD_NY), enhancing institutional access to reliable crypto pricing data as markets navigate ongoing volatility.
Robust Framework for Crypto Pricing
The CME CF Cryptocurrency Benchmarks provide standardized reference rates and real-time indices for major cryptocurrencies including Bitcoin, Ether, Solana, XRP, and now Uniswap. These tools aggregate trade data from leading exchanges such as Bitstamp, Coinbase, Gemini, itBit, Kraken, LMAX Digital, Bullish, and Crypto.com, ensuring diverse and representative pricing.
Designed in alignment with the European Benchmarks Regulation (EU BMR), the benchmarks follow a transparent methodology overseen by an industry expert committee. Reference rates are published daily at key times: 4:00 p.m. London, New York, and Hong Kong/Singapore, while real-time indices update every second.
New Addition: UNIUSD_NY Benchmark
The UNIUSD_NY, added on January 6, 2026, calculates the U.S. dollar price of Uniswap by aggregating spot exchange trade flows during specific windows. This non-tradeable benchmark joins over 30 others, supporting futures settlements for Bitcoin (BRR), Ether (ETHUSD_RR), and specialized products like Bitcoin Euro futures (BTCEUR_RR).
Recent expansions also include the Nasdaq CME Crypto Index (NCI), launched February 2, 2026, a market-cap-weighted index rebalanced quarterly to track top cryptocurrencies in real-time, 24/7. Its settlement counterpart, NCIS, publishes daily at 4:00 p.m. New York time.
Critical Role in Futures and ETFs
These benchmarks underpin CME Group’s cryptocurrency futures and options, including spot-quoted futures (SQFs) and micro contracts. For instance, Bitcoin futures settle to the CME CF Bitcoin Reference Rate (BRR), praised for its manipulation resistance and use by institutions like BlackRock for ETF net asset values.
| Benchmark | Publication Time | Futures Settlement |
|---|---|---|
| BRR (Bitcoin) | 4:00 p.m. London | Bitcoin & Micro Bitcoin Futures |
| ETHUSD_RR (Ether) | 4:00 p.m. London | Ether & Micro Ether Futures |
| UNIUSD_NY (Uniswap) | 4:00 p.m. New York | Non-tradeable reference |
| ETHBTC_USD | 3-4 p.m. London (RR) | Ether/Bitcoin Ratio Futures |
Market Context and Performance
As of early February 2026, crypto markets show mixed signals. CF Benchmarks’ weekly highlights for February 2 noted uniform losses across single-asset benchmarks, ranging from -20.3% to -12.1%, reflecting broader downturns. Earlier, on January 19, Bitcoin rose 4.2% and Ether 7.0% week-over-week, underscoring volatility.
“The BRR is an investible price benchmark with design features that promote replicability, manipulation resistance, and index integrity,” states a CF Benchmarks explainer, highlighting its role in settling hundreds of billions in derivatives.
Access and Data Delivery
Market participants access data via CME’s Market Data Platform (MDP) with sub-millisecond latency, Google Pub/Sub, or DataMine. Licensing is required for commercial use, enabling trading strategies, product structuring, and portfolio enhancement.
CME emphasizes the benchmarks’ resilience, proven through high-volatility periods, and their alignment with IOSCO Principles for Financial Benchmarks. Specialized offerings like CME CF Bitcoin Volatility Benchmarks (BVX/BVXS) and ETHBTC_USD ratios further cater to derivatives traders.
Institutional Adoption Grows
The expansion coincides with increasing institutional interest in crypto derivatives. CME’s transparent, liquid marketplace offers capital efficiency and price discovery, with futures now covering Bitcoin, Ether, SOL, XRP, and ratios. Real-time indices reflect fair instantaneous fiat prices, aiding risk management.
Experts note that regulated benchmarks like these reduce counterparty risk and enhance global market access, particularly under EU BMR compliance. As crypto evolves, CME CF products position themselves as foundational for compliant, reliable pricing.