• 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.

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin may extend the recovery once Gold resumes the rally

Bitcoin has been creeping higher towards $12,000, ETH struggles at $400, while some altcoins rush forward to new highs. Thus, Bitcoin Cash and Monero gained 10% in the recent 24 hours, while EOS increased by 6%. 

More Bitcoin News

XRP/USD daily bull flag awaiting confirmation to breakout above $0.346

XRP/USD is trading at $0.309 while daily EMAs remain far away from the price. The daily bull flag is the most important pattern for XRP in the short-term. XRP continues fighting to remain above $0.30 ...

More Ripple News

Grayscale wants to register its Ethereum-based trust with SEC

Grayscale Investments submitted an application with the US Securities and Exchange Commission to register its Ethereum-based Trust. The company emphasized that the filing is voluntary, however, the registration will entail additional compliance requirements.

More Ethereum News

How long can TRX/USD sustain this 6-months ascending channel?

Tron price action has continued to take down key barriers from the massive losses in March. Even though the recovery has been as rapid as witnessed in other altcoins, TRX/USD price action speaks slow and steady out loud.

More Tron News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast

BTC

ETH

XRP