Ever since the Chicago Board Options Exchange (Cboe) announced it was ending its bitcoin futures products back in March, the Chicago Mercantile Exchange (CME Group) has seen a huge influx of bitcoin derivatives volumes. During the second week of May, CME’s bitcoin futures touched a milestone when it surpassed 33,000 contracts ($1.3 billion notional value) in one day. In another instance, CME’s open interest for its bitcoin derivatives positions smashed an all-time record high of 5,190 contracts on May 28.
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CME Group’s Bitcoin Futures Markets Break Records Throughout April and May
There’s been a lot of action happening with bitcoin futures products specifically stemming from CME Group. Last March, Cboe decided to announce the end of its bitcoin futures markets, stating that the product saw low trade volumes. Although Cboe said at the time that it would ponder offering cryptocurrency derivatives products in the future. The last contract for…