CME Bitcoin Options Market Grew 10x in the Past Month

CME Bitcoin Options Market Grew 10x in the Past Month

CME Group bitcoin options market open interest, May 11 to June 10, 2020 (CoinDesk Research, Skew, CME)

Over a recent 30-day period, the total open interest for CME bitcoin options increased more than tenfold, from $35 million on May 11 to $373 million on June 10. Moreover, open interest made a new all-time high on six consecutive days from June 5-10. 

Significant growth in CME futures points to rapidly growing interest by institutional investors in trading regulated derivatives products. Despite this growth, however, CME Group “has no plans to introduce additional cryptocurrency products,” a spokesperson told CoinDesk. Thus for now, CME Group’s cryptocurrency products will only involve bitcoin.

CME, which launched its bitcoin options product only at the beginning of 2020, now represents over 20% of the global bitcoin options market measured by open interest, or the total number of outstanding derivative contracts. It’s now the second-largest bitcoin options market in the world behind Panama-based Deribit, according to .

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