CME seeks to double the spot month limit for Bitcoin futures contracts to 10,000 BTC

The Chicago Mercantile Exchange (CME) sent a letter to the US Commodity Futures Trading Commission (CFTC) on Thursday, announcing its intention to increase the spot month position limit for Bitcoin futures contracts. For a single investor, this cap will jump from 1,000 to 2,000 per month. Since each contract contains 5 bitcoins, this change means that the trader's maximum risk exposure will increase from 5,000 bitcoins to 10,000 bitcoins. Christopher Bowen, managing director and chief executive of CME, said in a letter that if the CFTC does not object to the plan, the move will take effect on September 30th in the October 2019 contract.