Basis Risk
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CME micro crypto futures are for defined exposure, not spot-coin replacement
Micro Bitcoin and Micro Ether futures can help traders size exposure through a regulated futures workflow. They still differ from spot crypto because they introduce contract specs, margin, expiry and basis risk.
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Pre-IPO perpetual futures are price discovery tools with extra basis risk
Coinbase, Kraken and Binance have moved into pre-IPO perpetual exposure, but traders need to understand eligibility, leverage and reference-price uncertainty.
