CME Bitcoin Futures Product Breaks Volume Record
In a liquidity report, CME Group has revealed that last month was the most successful for its bitcoin futures product since its launch in 2017.
The report shows new highs in both average daily volume and open interest in May. Within the month, the average daily volume finished at more than 13,600 contracts, or $515 million in notional USD-traded value. This number was up 36 percent since April, and 250 percent year over year.
Open interest, or contracts left unsettled, also reached an all-time high with 4,602 total contracts. This is an 80 percent increase since May 2018.
223 trading accounts were also added in May, the most CME Group has seen since 2018. This may be a sign that institutional interest has escalated.
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