• The Chicago Mercantile Exchange (CME) registers a growth of trading activity.
  • Investors are interested in Bitcoins again.

The Chicago Mercantile Exchange (CME) reports that an average daily trading volume of Bitcoin futures hit the highest level in 2019, which may signal that investors have become increasingly interested in the cryptocurrency trading.

According to GroupTim McCourt, Managing Director of CME Group, the traders' activity has grown significantly on a year-on-year basis.

 "Year-to-date, bitcoin futures are averaging 7,237 contracts per day, which is a 132% increase from the same period last year," he said.

The average daily trading volume of bitcoin futures increased to $370 million.

"This is an exciting time for bitcoin futures, as well as for cryptocurrency assets in general," McCourt added. "There is a lot of broad investor interest in cryptocurrency, as well as growing interest in a variety of applications for cryptocurrencies and blockchain technology. It will be interesting to see how this new market continues to grow and scale. For us at CME Group, a major focus is education, and making sure our customers have all the tools they need to make solid strategic decisions around crypto." 

He emphasised that CME Group put a great focus on an educational aspect of providing instruments that may help traders to make informed strategic decisions and manage risks in a more efficient way.

Also, Tim McCourt mentioned that May 2019 had become the best month for Bitcoin futures market on CME on record. On average, more than 13,600 contracts were traded every day.

"Our role is to help bitcoin market participants manage their risk, regardless of whether the underlying price goes up or down. We’re pleased with the growth of CME Group bitcoin futures so far," he added.

Notably, Bakkt plans to launch deliverable Bitcoin futures trading in September.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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