CMEGroup Reports About Growing Interest in Bitcoin Futures

CMEGroup claims to have hosted over more than 2 million bitcoin futures contracts, the volume amounted to $ 70 billion, as was reported on Twitter.

Volume update: As of July 23, CME Bitcoin futures have traded over 2M total contracts (10M equivalent bitcoin) since the December 2017 launch. Explore BTC: https://t.co/Z1LGfdrbFL pic.twitter.com/NkmQnMnliM

— CMEGroup (@CMEGroup) July 23, 2019

The report on transactions is presented for the period from December 2017 to July 21 of the current year. The derivatives market has once again attracted customers, as interest in Bitcoin has risen after the cryptocurrency shown growth 200% this year. This also coincided with the decision of the Chicago Board Options Exchange (CBOE) to stop offering futures contracts for bitcoins.

CME recorded an increase in the number of contracts since May; the trend developed in June. The exchange reported that its bitcoin futures reached “a record $1.7 billion in notional value traded on June 26, surpassing the previous record by more than 30 percent,” adding:

“The surge in volume also set a new open interest record of 6,069 contracts as institutional interest continues to build.”

Bitcoin futures are perfect for investors who do not want to keep bitcoins themselves, but want to speculate on their value through regulated platforms. Today, futures are still considered as a metric that allows to measure the interest of major investors in cryptocurrency.

Image courtesy of Bitcoin Magazine