The Chicago Mercantile Exchange, or CME, has seen significant trading volume in Bitcoin (BTC) futures over the past 12 months.
The trading hub saw higher-than-usual numbers as the Bitcoin price heated up in December 2020 after a hiatus in 2017, when the price was $19,892 on Dec. 1. "Average daily BTC volume (ADV) reached 11,179 contracts (55.9K Bitcoin equivalent) in December, up 114% y/y [year-over-year]," a CME representative said.
Average daily open interest, or ADOI, "reached a record 11,108 contracts (55.540 Bitcoin-equivalent) in Q4, up 233% year-over-year from Q4 2019," - The CME representative said. Big players have also entered the trading market, as seen by the exchange's large open interest shareholders, LOIH.
CME plans to launch ETH futures in February, which was initially announced in December 2020.
