CME Group (CME) launches Micro Bitcoin futures in expanding its line of cryptocurrency derivatives.The futures, each contract representing 1/10th of a bitcoin, are cash-settled, based on the CME CF Bitcoin Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin.The smaller size allows a wider range of investors — from "institutions to sophisticated, active traders" — to finetune their bitcoin exposure, CME said.The introduction comes as "we continue to see consistent growth and liquidity and participation in our crypto futures and options," said Tim McCourt, CME Group global head of Equity Index and Alternative Investment Products.The price of bitcoin gains 3.4% in the past 24 hours to ~$58.6K.Over the weekend, ethereum grabbed crypto headlines, rising above $3,000 on Sunday for the first time.