CME Managing Director: CME Group Bitcoin Futures Trading Volume Reaches $ 100 Billion Since 2017

The Chicago Mercantile Exchange (CME) has hosted more than $ 100 billion in trading volume for its Bitcoin futures trading products.

Tim McCourt, Managing Director and Global Head of Alternative Investment Products of the CME Group, told Tim Cointelegraph: "Since its launch in December 2017, the nominal total transaction amount of CME Group Bitcoin futures has been Over $ 100 billion. "

Institutions join cryptocurrency

During the cryptocurrency boom of 2017, mainstream financial entities began to get involved in the industry.

In December 2017, at the peak of Bitcoin's highest historical price , CME launched a cash-settled Bitcoin futures trading product. Only one week after the Chicago Board Options Exchange (CBOE) launched a similar cash-settled Bitcoin futures trading product, CME entered the market.

"Our bitcoin futures have grown over the past two years and have now become one of the most liquid listed bitcoin derivatives in the world," McCourt said.

In contrast, CBOE ceased its Bitcoin futures trading products in March 2019 after the long bear market in the previous year passed.

Continuous progress

Although the institutional cryptocurrency participation was lost from CBOE (this channel), the cryptocurrency industry has since gained the participation of other mainstream institutions.

Intercontinental Exchange (ICE) launched physical-settled Bitcoin futures trading through its Bakkt platform on September 23, 2019. Bakkt also opened Bitcoin options trading in its cash-settled Bitcoin futures in December 2019.

Obviously, the market is very interested in CME Group's bitcoin futures, as evidenced by this new large-scale trading benchmark. "We continue to see strong participation from institutional investors, physical bitcoin traders and other customers who value transparency, price discovery and risk transfer and can only be offered in regulated markets like CME Group," McCourt said.

Cointelegraph reports on Bitcoin options trading launched by CME in early 2019.

Original URL: