CME Bitcoin Futures Hits a Record Volume of $1.3 Billion in May
Chicago Mercantile Group (CME), only the second global derivatives exchange to list Bitcoin futures, hit a record volume during the month of May for BTC futures trading. Approximately 300,000 contracts were traded in May, with an average daily volume hitting a new high of 14,000. The record single-day volume on CME hit 168,000 BTC equivalent ($1.3 billion or 33,677 contracts).
According to CME Group, there were 223 new trading accounts added in May – suggesting increased institutional demand. Whether Bitcoin futures are intended as a risk management tool or to purely speculate on price volatility, more and more institutions and family offices are utilizing Bitcoin futures.