Chicago Mercantile Exchange (CME), the world’s leading financial derivatives marketplace, is seeing new record highs for its Bitcoin trading products.
Crypto data analytics firm Skew reveals that in the first half of May, CME BTC options open interest, which is the total number of futures contracts held by market participants at the end of the trading day, hit a new high.
CME #bitcoin options open interest is up 10x this month pic.twitter.com/D7tIpx5t8B
— skew (@skewdotcom) May 15, 2020
As of May 14, the exchange secured open interest of 10,792 Bitcoin futures trading contracts, equivalent to a total of 53,960 BTC, currently valued at $512 million, setting a fresh all-time high for the product, according to data provided by a CME representative to Cointelegraph.
On May 13 and May 14, CME’s Bitcoin options product also saw an all-time volume high with 4,389 BTC worth of contracts. Open interest likewise pulled off a new record with 14,535 BTC worth of contracts.
Data shows CME also hit a new record for its large open interest holders (LOIH) on May 4th with 66 LOIHs. These are holders with an open interest of at least 25 BTC futures contracts. The firm’s record LOIH figures indicate that institutional investors are boosting the volume spike in Bitcoin trading products.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/ArCere