Averaging 7,237 contracts per day, the growth represents a 132 percent increase from the same period last year-clearly indicating growing institutional attention for BTC.Exciting times for Bitcoin futures.
Since mid-December 2018, Bitcoin entered a bull rally that took its price up more than 300 percent.
The CME had its most successful month yet for Bitcoin futures, according to, Tim McCourt, CME Group's managing director in an interview.
The global head of equity index and alternative investment products at CME believes that "This is an exciting time for Bitcoin futures" and for the cryptocurrency industry as a whole.
"It's important to remember that CME Group is a neutral marketplace. 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," added McCourt.
Although Tim McCourt did not comment on the impact that the expiration of CME Bitcoin futures have on the cryptocurrency market, many analysts in the crypto community believe they tend to influence the price of Bitcoin.
Olszewicz recently explained that there is a close correlation between the expiration dates on CME futures contracts and BTC's price action.
Now, about 50 percent of the open interest for CME Bitcoin futures are set to expire by the end of the week, signaling a high period of volatility, according to one anonymous analyst.
Here's how the historical returns around CME futures expiry stack up.
As the expiration date for CME Bitcoin futures approaches, in conjunction with the launch.
CME Bitcoin futures volume up 130% YTD indicating institutional attention
Published on Aug 30, 2019
by Cryptoslate | Published on Coinage
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