CME Group (NASDAQ: CME) announced plans to launch Nasdaq CME Crypto Index futures on June 8, pending regulatory review, according to a company statement.

The new futures contracts will be CME Group's first market-cap weighted futures contract and will be available in both micro-sized and larger-sized contracts. The contracts will provide exposure to top cryptocurrencies by market capitalization through a single, financially settled futures contract.

At expiration, the futures will be financially settled to the value of the Nasdaq CME Crypto Settlement Price Index, which measures performance of the largest and most actively traded cryptocurrencies. As of May 14, the index includes bitcoin, ether, SOL, XRP, ADA, LINK, and lumens.

"Demand for regulated cryptocurrency futures continues to increase, with average daily volume in our suite up 43% year-to-date," said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group.

Sean Wasserman, Head of Index Product Management at Nasdaq, said the index was designed to serve as a foundation for broader crypto market benchmarks with governance and transparency standards expected in other asset classes.

The futures contracts will be listed on and subject to CME rules. CME Group operates exchanges offering benchmark products across interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals.