CME Group Bitcoin Futures Hit $1.3 Billion Amidst The Bull Run
CME Group is riding high as the cryptocurrency’s surprise bull market continues, the firm reports record volume for its bitcoin (BTC) futures on May 13.
CME Bitcoin futures reached an all-time record high of 33.7K contracts on May 13 (168K equivalent bitcoin), up nearly 50% from the last record of 22.5K contracts on April 4. See how market participants are using $BTC to manage uncertainty: https://t.co/hDgraMj5pe pic.twitter.com/ct1xkjoJDF
— CMEGroup (@CMEGroup) May 13, 2019
In December, CME along with the Chicago Board Options Exchange (CBOE) became the first provider of bitcoin futures to the market. The group saw an impressive all-time record of 33,700 contracts on Monday. The figures represent an equivalent 168,000 BTC ($1.35 billion), an almost 50% rise versus the previous high of 22,500 contracts and 112,700 BTC (currently $909.2 million) on April 4.
At the time CME warned over a 17% net income drop for Q1 2019 despite the brisk bitcoin activity. The seven-week bull run of Bitcoin started on April 1 and on Tuesday, the flagship cryptocurrency set a yearly high of $8,335. The token’s own trading volumes have set separate daily records, with two days of back-to-back historic highs occurring this week.
Image source – Stock Photo Secret