In Q3, Bitcoin futures average daily volume rose 41% and open interest was up 19% over Q2 . Learn how market participants are using BTC to manage risk in changing markets. https://t.co/Yt41SzsHku pic.twitter.com/Kw4OX0QaKT
— CMEGroup (@CMEGroup) October 17, 2018
According to CME Group’s recent tweet, Q3 saw more than 5,000 contracts (25,000 BTC) worth of average daily trading volume (ADV) and a 2,870 daily open interest (OI). These numbers represent 41% and 19% increases, respectively, over the second quarter.
Given the success of Bitcoin futures products with institutional investors, CME Group is currently exploring additional altcoin trading products. We previously reported that CME and Crypto Facilities (CF), a UK-based digital asset exchange, are planning to launch an Ether-Dollar Reference Rate and Real-Time Index in response to the growing institutional need for enhanced pricing information on rapidly growing cryptocurrencies.
Similarly, Cboe Global Markets (CBOE) is planning to launch an Ethereum (ETH) equivalent to its Bitcoin futures product in the very near future. Cboe is currently awaiting further clarification from the Commodity Futures Trading Commission (CFTC) before fully launching the futures product.
Nonetheless, these products are still fairly speculative and have drawn the attention of regulators, as previous research has raised the possibility that CME’s Bitcoin futures prices are derived from manipulated exchange data.
More: CME Group Tweet
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.