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

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

What if Bitcoin is loaded with a Decentralized Exchange (DEX)? This expansion agreement will solve the problems faced by the lightning network.

The author of a new under-chain bitcoin extension solution called Statechain called on the Bitcoin community to imple...

Blockchain

Million-Dollar Shuffle FTX Cold Wallets Sneak $19M in Solana and Ether to Crypto Exchanges

FTX debtor group responsible for asset management has recently conducted multiple on-chain transactions.

Blockchain

Full text of South Korea's first independent "Encryption Act": Insider trading carries a maximum sentence of life imprisonment.

On June 30, 2023, the South Korean National Assembly's Political Affairs Committee passed the country's first legisla...

Policy

🚀 FTX Claims Reach for the Sky: AI Investments Boost Recovery Potential

FTX's investment in AI companies has significantly increased their potential recovery during their bankruptcy procedu...

Blockchain

"Gemini" Risk Control Interview: How the Traditional Financial Regulatory Framework Maps to the Crypto Industry

Source: Yahoo Fiance Original author: Daniel Kuhn Translator: Moni Source: Odaily Planet Daily The restless January f...

Blockchain

Bloomberg: The currency stability exchange's own stable currency will be issued in "weeks to one or two months"

According to Bloomberg News, Wei Zhou, chief financial officer of Binance, the main cryptocurrency exchange, said in ...