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 resumes the decline after a consolidation period

Bitcoin crashed below $8,700 and tested $8,550 during early Asian hours on Thursday. The coin moved outside the recent range and extended the downside into the end of the week. BTC/USD has lost 2% since the beginning of the day and 1% in recent 24 hours. 

More Bitcoin News

Altcoin segment: bullish war drums

Sunny King, the creator of the consensus protocol Proof of Stake (PoS), has stated in a recent interview that Bitcoin has a vital role as a reference value in the crypto-verse, but that the highest growth potential is in the Altcoin segment.

More Cryptocurrencies News

ETH/USD hovers around $185.00, vulnerable to further losses

ETH/USD is trading at $185.27 at the time of writing, having recovered from the intraday low of $184.11. The second-largest digital asset with the current market value of $18.8 billion has lost 1.34% of its value since the beginning of Thursday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price prediction: XRP/USD smashes below critical support of $0.2700 – Confluence Detector

Ripple’s XRP extended thee sell-off to $0.2633 on Thursday. The coin is moving in sync with the market, controlled by bearish sentiments. A sustainable move below $0.2700 support bodes ill for XRP's short-term forecast, making it vulnerable to further losses.

More Ripple News


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