CME bitcoin futures saw new records in both volume and open interest in May, adding over 200 new trading accounts
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CME Group announced that its bitcoin futures product had its best month since the product first launched in late 2017, hitting fresh highs in both volume and open interest in May.
Average daily volume within the month finished at more than 13,600 contracts, or ~$515 million in notional USD traded value, up 36% since April and over 250% year-over-year. Open interest, or the number of contracts left unsettled, also saw all time highs of 4,602 total contracts, up 80% since last May 2018.
The derivatives exchange also stated that the bitcoin product added 223 new trading accounts in May, the most its seen since January 2018, and a sign that institutional interest has indeed picked up.
AUTHOR
Ryan Todd is a research analyst at The Block where he focuses on the convergence of fintech and digital assets. Previously he worked at Deutsche Bank as an equity analyst covering consumer finance and payments companies, and also spent time at ConsenSys exploring the broader Ethereum ecosystem. Ryan holds a BS in Economics and Accounting/Finance from Florida State University, and MS Finance from Vanderbilt University.
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