Bitcoin futures attract increasingly more interest from large investors - CME Group


  • The company published the latest data on bitcoin futures.
  • The momentum is growing due to high institutional demand.

The operator of the Chicago Mercantile Exchange (CME Group) says that its bitcoin futures are getting more popular with large investors. In the third quarter, the number of open contracts increased by 61% compared to the same period last year.

"Despite the pullback in bitcoin prices, customer interest in CME Bitcoin futures remained strong during Q3 with daily OI of over 4.6K contracts, up 61% vs Q3 2018," the company posted on Twitter.

An open interest (the number of outstanding positions) increased to 4629 contracts, compared to 2873 in the third quarter of 2018 CoinDesk reports. Despite a 25% decline in bitcoin prices in the third quarter of the year, demand for CME BTC futures decreased by only 1% compared to the second quarter.

The average number of contracts traded on a daily basis amounted to 5534 over the past three months, which is 10% more than a year earlier. According to the exchange, it is equivalent to 27,670 BTC or $289 million.

The number of outstanding positions opened by major players (from 25 BTC and above) grew in the third quarter to 47 from 34 a year earlier.

Nearly 50% of the CME bitcoin futures bitcoin-futures trading volume came from outside the United States with 26% coming from the Asia-Pacific region and 21% - from in Europe and the Middle East.

Notably, earlier this year CME announced the launch of another bitcoin derivative instrument, options on bitcoin futures. Tim McCourt, managing director of the company, said that they expect high demand for new products from Asian and European traders.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin will surpass gold by market value and cost over $500 000 in 9 years - Bobby Lee

One bitcoin will half a million dollars by 2028, according to Bobby Lee, the co-founder and the former CEO of China's lowest cryptocurrency exchange BTCC.

More Bitcoin News

Stellar (XLM) retreats from weekend high, stays in green on a day-to-day basis

Stellar (XLM) recovered from the recent low of $0.0683 to trade at $0.0815 on Sunday. By the time of writing, the coin has partially reversed the gains and settled act $0.0778; however, it still enjoys 3% of gains on a day-to-day basis. 

More Stellar Lumens News

Ethereum price analysis: ETH/USD sits in a long-term range

ETH/USD is trading at $186.57 at the time of writing, having retreated from the intraday high of $190.28. The second-largest digital asset with the current market value of $20.3 billion has lost 1.34% of its value since the beginning of Monday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price update: Reignited bearish momentum targets $0.27

Ripple continues to be depressed towards $0.27 (recent support). It is clear recovery towards $0.30 is nothing but a mirage based on the current technical picture.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

BTC

ETH

XRP