The volume of CME Bitcoin options increases just a week after its introduction
The trading volume for Bitcoin (BTC) options of the Chicago Mercantile Exchange (CME Group) was already over 100 percent increased.
The volume of Bitcoin options increased in the seven days after their introduction on 13. January 2020 more than doubled. To the 17. January was a volume of 122 contracts worth 610 BTC records that is currently valued at $ 5 27 million. On the first day of their introduction, the volume of BTC options was only 55 contracts or 275 BTC.
The open interest in Bitcoin option contracts remained constant on Friday at 219 contracts, which is an estimated value of 1. 095 BTC or 9, 45 million dollars at current prices.
CME's bitcoin futures recorded a total volume of 7 last week. 245 contracts worth 313 million dollars
CME described its BTC options as a success, although they were only recently launched. Meanwhile, analysts have found that an increase in the supply of cryptocurrency derivatives shows that institutional investors are interested in Bitcoin (BTC) and other digital assets.
Bitcoin futures contracts also performed solidly last week as the CME had a total volume of 7 245 contracts With a value of 36.225 BTC or around 313 million dollars. The crypto desk of the Intercontinental Exchange placed orders worth 15, $ 2 million.
But Bakkt's trading volume declined significantly towards the end of last week, as data from the social media monitor Bakkt Volume Bot confirm.
CME introduced 2017 cash-settled Bitcoin futures in December
It has been about two years since CME introduced its cash-settled Bitcoin futures contracts in December 2017. During this time, the stock exchange has established itself as an important player in the regulated digital currency derivatives market.
The CME Group introduced regulated Bitcoin futures just one week after the launch of its competitor CBOE's own futures. But CBOE left the market after only 15 months. In August, the CME confirmed that it had record highs in trading Bitcoin futures.
CME's volumes are being overshadowed by Malta-based giant Binance, which has been reported in recent 24 hours a Bitcoin futures trade worth 111. 000 BTC or 959 million Dollar recorded.
Text proof: cryptoslate