CME Group reported a record annual average daily volume (ADV) of 28.1 million contracts in 2025, a 6% increase from 2024, driven by surging crypto derivatives and sustained demand for interest-rate products. The results underscored broad-based growth across asset classes and reinforced the exchange’s central role in institutional risk management.
Crypto derivatives posted the largest percentage gains for CME Group. ADV in the cryptocurrency complex rose 139% to 278.000 contracts, an estimated $12 billion notional on average daily volume. Activity peaked late in the year: Q4 2025 ADV reached 379.000 contracts ($13.3 billion notional) and an August ADV hit 411.000 contracts, a 230% year-over-year increase.
Micro Ether and Micro Bitcoin futures were notable contributors, with annual ADVs of 144.000 and 75.000 contracts respectively. The exchange also rolled out options on Solana and XRP futures as part of its product expansion.
Interest rate products remained the largest single category by scale. ADV in rates climbed 4% to a record 14.2 million contracts. Within that segment, U.S. Treasury futures and options averaged 8.3 million contracts daily and SOFR futures and options averaged 5.4 million, reflecting persistent institutional hedging demand.
Growth was broad. Energy products reached 2.7 million contracts ADV (up 8%), agricultural products 1.9 million (up 8%), and metals hit 988.000 contracts (up 34%). Equity index volumes rose by 8%, while international volumes reached 8.4 million contracts, also up 8%, with strong contributions from EMEA and Asia‑Pacific regions.
Financial and market implications
The surge in crypto volumes materially altered CME’s mix, lifting the firm’s overall revenue base. For the last twelve months the exchange reported revenue of $6.39 billion, representing a 5.81% increase, according to the data set published with the volume release. That combination of traditional rate products and new crypto offerings helped the exchange expand liquidity provision across markets.
The composition shift carries practical implications for traders and risk managers. Crypto product growth broadened hedging and speculative channels within a regulated venue, while continued strength in rate products kept margin and collateral dynamics central to institutional workflows.
Increased activity in crypto and metals also suggests liquidity providers adjusted capacity to capture higher turnover across smaller‑ticket, high‑velocity instruments.
Investors and participants will now watch whether CME’s expansion of regulated crypto products and the sustained institutional demand for rate instruments can be maintained into 2026, and how that mix will affect trading costs, margin requirements and liquidity provision on both peak and off‑peak hours.
