Hitting another record high, the trading volume of bitcoin futures products on the Chiba Exchange exceeded US $ 100 billion

According to Cointelegraph reported on January 31, the Chicago Mercantile Exchange (CME) has traded more than $ 100 billion in bitcoin futures trading products.

Screen Shot 2020-01-31 at 11.22.14 AM (Image source: pixabay )

The Chicago Mercantile Exchange Group Managing Director and Global Head of Equity Index Alternative Investment Products Tim McCourt told Cointelegraph:

Since its launch in December 2017, the Chicago Mercantile Exchange's nominal futures for bitcoin futures have totaled more than $ 100 billion.

Institutions have gradually entered the field of cryptocurrency

During the cryptocurrency boom in 2017, mainstream financial entities began to enter the industry one after another.

In December 2017, at the time when bitcoin reached its highest price in history, the Chicago Mercantile Exchange launched a cash-settled bitcoin futures trading product. Only one week after the Chicago Mercantile Exchange launched a cash-settled Bitcoin futures trading product, the Chicago Board of Trade (CBOE) entered the market.

McCourt says:

The Chicago Mercantile Exchange's bitcoin futures have evolved over the past two years and it is now one of the most liquid Bitcoin derivatives in the world.

In contrast, after a long bear market in the previous year, the Chicago Board Options Exchange stopped bitcoin futures trading products in March 2019.

Continuous improvement

Although the cryptocurrency space has lost participation from institutions such as the Chicago Board of Options Exchange, it has since gained other mainstream participation.

On September 23, 2019, the Intercontinental Exchange (ICE) launched a physically settled Bitcoin futures transaction through its Bakkt platform. In December, Bakkt also opened Bitcoin options trading for trading Bitcoin futures settled in cash.

Of course, the market is clearly interested in Bitcoin futures on the Chicago Mercantile Exchange.

McCourrt says:

We continue to see the active participation of institutional investors, Bitcoin traders and other customers who value transparency, price discovery and risk transfer, and that only regulated markets like the Chicago Mercantile Exchange can offer similar products.

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Original: https://cointelegraph.com/news/cme-bitcoin-futures-hit-100b-in-volume-since-2017-director-mccourt-says

Author: Benjamin Pirus

Compilation: Captain Hiro

Source (translated): Babbitt Information (http://www.8btc.com/550672)