In the past 12 months, the trading volume of Bitcoin (BTC) futures trading products on the Chicago Mercantile Exchange (CME) hit a new high. “In 2020, more than 2.2 million contracts were traded,” a CME representative told Cointelegraph. On the Chicago Mercantile Exchange, each cash-settled bitcoin futures contract is worth 5 bitcoins.
After the Bitcoin price broke the historical high of $19,892 in 2017 on December 1, it began to heat up in December, and the Bitcoin trading center CME set a record higher than normal trading volume. A CME representative said: “The average daily Bitcoin transaction volume (ADV) in December reached 11,179 contracts (equivalent to 55,900 BTC), an increase of 114% year-on-year.”
A CME Group statement stated that the average daily open interest (ADOI) “reached a record 11,108 (equivalent to 55,540 BTC) in the fourth quarter. Large investors also appeared in CME to trade, which was This can be seen in all the large open interest holders (LOIH). The representative of CME said: “In the first week of December, the number of LOIH increased to a record 110, indicating that institutional interest is increasing. . “
CME plans to launch Ethereum (ETH) futures in February of this year. This news was originally announced in December 2020.
In 2020, many large financial entities have shown interest in Bitcoin, including MicroStrategy and Square, which have invested heavily in Bitcoin, the largest crypto asset.
