The average daily trading volume of bitcoin futures on the Chicago Mercantile Exchange (CME) rose to $ 370 million

The Chicago Mercantile Exchange (CME) reported a record in 2019 indicators of the average daily volume of bitcoin futures trading, which indicates a renewed interest in the first cryptocurrency from investors, Forbes reports.

As Tim McCourt, Managing Director of CME Group, noted, the activity of traders has grown significantly compared to August last year.

“Since the beginning of the year, an average of 7,237 contracts have been concluded daily for bitcoin futures, which is 132% of the indicators for the same period last year ,” he said.

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

“This is a great time for both bitcoin futures and cryptocurrency assets in general. Investors' interest in cryptocurrencies is high, and interest in the wider use of cryptocurrencies and blockchain technology is also growing. It will be interesting to see how this new market continues to grow, ”said McCourt.

According to him, the main focus of the CME Group is on the educational aspect and providing clients with tools that they may need to make informed strategic decisions.

Returning to the numbers, Tim McCourt recalled that May 2019 was the most successful month for the CME bitcoin futures market in the history of the tool. Then, on average, 13,600 contracts were concluded per day, which corresponded to a nominal volume of $ 515 million or 68,000 BTC.

The absolute record was recorded on May 13, when 33,677 contracts were concluded for a total of 168,000 BTC ($ 1.3 billion).

“Our role is to help market participants in risk management, regardless of whether the price of bitcoin goes up or down. At the moment, CME Group is pleased with the growth of bitcoin futures , ”added McCourt.

Recall that in September it is expected to launch trading of bitcoin futures on the Bakkt platform, contracts under which, unlike CME, will be with the physical delivery of the asset.

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