The CME Group shared this week that it has observed a significant surge in Bitcoin futures volumes: BTC-based futures volumes reached the record of 18,338 contracts traded — and the company assigns the achievement to the growing interest of institutional investors.
“Yesterday [Feb 19] set a new record with 18,338 contracts traded, [...] this is equivalent to 91,690 Bitcoin or $360 million.” — The CME Group shared.
The CME Group launched its Bitcoin futures products in 2017, along with CBOE. In the beginning both regulated exchanges experienced high interest in the crypto derivatives market — however, some months later both faced a decrease in volume.
In the meanwhile, the volume rose again — just to fell once more. And now, beginning of 2019, volumes are registering another increase, gaining interest from institutional buyers.
“Futures products from traditionally regulated exchanges (CME and CBOE) represented 11.7 percent of the Bitcoin to USD futures market in January, up from 6.36 percent in December,” — Shared Cryptocompare’s January exchange research.
Will the trend continue?
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