CME Group Crypto Derivatives Volume Soars 129% in April With ETH Leading the Charge
The exchange saw its crypto derivatives volumes rise sharply to $8.9 billion in April, led by ether futures growth.
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The exchange saw its crypto derivatives volumes rise sharply to $8.9 billion in April, led by ether futures growth.
Bitcoin has added $30,000 since Donald Trump won the U.S. presidential election and closing in on a $2 trillion market cap.
The decentralized exchange for futures and options trading plans to go live on Arbitrum on Jan. 8.
High-leverage liquidity in bitcoin is concentrated at around $58,500, according to Hyblock Capital.
The decline in trading volumes for ETH instruments suggests lower-than-expected institutional interest in the asset, particularly following the launch of spot ETH ETFs, according to CCData.
The approval and subsequent trading of spot ether ETFs in the U.S. has reinvigorated the market, CME’s Giovanni Vicioso said.
The notional open interest, or the dollar value locked in the number of active ether futures contracts, surged by 25% in a single day.
The CME is already the top bitcoin futures exchange by open interest, while the offshore, non-regulated Binance dominates the spot market.
Recently, traders have sold $80,000 BTC call options expiring at the end of May to generate additional yield, one observer said.
The price surge implied that the token could debut with a market cap of over $500 million.