CME Group Reports Record Activity in Cryptocurrency Derivatives
CME Group (CME) experienced unprecedented activity in its cryptocurrency derivatives markets during the first quarter of the year, fueled by a surge of interest in micro-sized contracts. The company announced that its average daily volume for crypto products reached an impressive 198,000 contracts, translating to a staggering $11.3 billion in notional value.
Notably, the firm highlighted record levels in its micro ether futures, with a remarkable 76,000 contracts traded. Additionally, its Bitcoin (BTC) and Ethereum (ETH) futures contracts also saw significant volumes, with 18,000 and 13,000 contracts traded, respectively. The trading activity in micro bitcoin futures was particularly noteworthy, showcasing a 113% year-over-year increase and achieving an average daily volume (ADV) of 77,000 contracts.
This surge in cryptocurrency contracts comes on the heels of a record-setting performance earlier in January. CME’s bitcoin and ether futures contracts have a notional value of 5 BTC and 50 ETH, respectively, while their micro contracts represent only 0.1 of each cryptocurrency. This smaller contract size allows for more precise trading and effective risk management, making it an attractive option for traders.
The remarkable growth in crypto activity is part of a larger trend of momentum across CME Group’s business. The exchange recorded an all-time high in quarterly average daily volume, reaching 29.8 million contracts in the first quarter. This surge also included record-setting volumes in U.S. Treasury futures, energy options, and agricultural contracts, showcasing CME’s robust performance in various sectors of the derivatives market.
