A group launches a new Bitcoin volatility index according to ChainCatcher, the CME group announced the launch of a new Bitcoin volatility index to measure market uncertainty. This index is based on the implied volatility of Bitcoin and Micro Bitcoin options and is designed to improve options pricing and risk management, similar to the VIX index in the stock market. The Bitcoin volatility index, developed in collaboration with CF Benchmarks, includes the spot BVX index and the settlement index BVXS. These two indices are the first to directly measure the 30-day implied volatility, derived from the order book of Bitcoin and Micro Bitcoin options from CME. The indices use variance swap pricing to isolate exposure to volatility. The BVX index is published every second during trading hours, while the BVXS index is released at 4:00 PM London time.