CME Bitcoin Futures Market Reached a Record
The amount of open positions in the Chicago Mercantile Exchange (CME) bitcoin futures market reached a record high of $400 million.
The growth in open positions suggests that traders expect short-term growth in volatility in the bitcoin market, writes The Block.
The figure of $400 million previous high of $338 million, which was reached on February 14.
However, volumes are significantly lower compared to February. The average daily volume of CME bitcoin futures last month was about $217 million, and in February — $493 million.
CME launched settlement Bitcoin futures at the end of 2017 amid “growing customer interest”. Earlier this year, bitcoin options were also offered on the exchange.
Author: Marko Vidrih
Featured image credit: Pixabay