Bitcoin futures facilitated more than 11 million BTC in volume last year



The Chicago Mercantile Exchange, or CME, has posted significant volume for its Bitcoin futures trading product (BTC) over the past 12 months. “More than 2.2 million contracts were negotiated in 2020,” a CME representative told Cointelegraph. Each Bitcoin futures contract settled in cash at the CME is worth the dollar value of 5 Bitcoin.

The trading center recorded higher than normal numbers, as Bitcoin’s price warmed up in December 2020, after a break from its 2017 historic high of $ 19,892 on December 1. “The average daily volume of BTC (ADV) reached 11,179 contracts (equivalent to 55,900 BTC) in December, an increase of 114% YoY [ano a ano] ”Said the CME representative.

The daily average of open interest, or ADOI, “reached a record 11,108 contracts (55,540 bitcoin equivalent) in the fourth quarter, up 233% from the fourth quarter of 2019,” according to a statement from the CME Group. Big players also showed up to trade, evident in the exchange’s large open shareholder count, or LOIH. “The number of LOIH grew to a record 110 in the first week of December, indicating the strengthening of institutional interest,” said the CME representative.

CME is planning a launch in February for its Ether (ETH) futures, which were initially announced in December 2020.

A number of major financial entities expressed interest in Bitcoin in 2020, including MicroStrategy and Square, which allocated large sums of capital to the first crypto asset.

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Thomas Miles

Cryptocurrency is the most recently discovered currency which will be likely at the help of modernization across the next few decades. With a limited control from the government, the crypto market is independent of many features of a sound market as we know it. Thomas brings these stories to us by weaving them into articles of general importance to all those looking at the fluctuations in the market, or new entries. Thomas is also the founder of Bulletin Bits and is an excellent leader. His leadership is the kind that makes him the most knowledgeable and experienced on the team. His wonderful work ethic and attitude are worthy of imitation!

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