CME Group’s BTC and ETH Products See Significant Increase in June!

  • According to data, CME had its best June for Bitcoin futures, with trading volume increasing by 28.6% to reach $37.9 billion.
  • CCData revealed that institutional investors were actively trading various financial instruments exposed to Bitcoin and Ethereum.
  • The report also showed a significant increase in Ethereum-based instruments, with over 97,000 ETH futures contracts traded.

According to a recently published research report, institutional investors showed great interest in Bitcoin and Ethereum investment products in June.

Increased Institutional Interest in BTC and ETH Products

bitcoin-ethereum

According to the report, institutional investors showed interest in various crypto products last month. Crypto data provider CCData revealed that institutional investors were actively trading various financial instruments exposed to Bitcoin and Ethereum. This is reflected in increased spot trading volumes, derivatives trading, and an increase in CME Futures Contracts for leading cryptocurrencies.

The notable increase in the past month seems to be influenced by BlackRock’s application for a spot Bitcoin ETF. According to data, the Chicago Mercantile Exchange (CME) had its best June for Bitcoin futures, with trading volume increasing by 28.6% to reach $37.9 billion.

historical-monthly-cme-futures-volumes

Another instrument, Bitcoin Micro Futures (MBT), also saw double-digit growth, increasing by 21.1% to $702 million in trading volume. These are smaller contracts and are typically one-tenth the value of a standard contract. In contrast, Bitcoin Micro Futures on CME are one-fiftieth the value of a standard contract.

The report today indicates that a total of 264,323 BTC contracts were traded, showing a 22.7% increase compared to the previous month. It’s important to note that these contracts are backed by five underlying bitcoins.

Ethereum Futures Contracts Grow by Over 10%

The report also highlighted a significant increase in Ethereum-based instruments. Over 97,000 ETH futures contracts were traded, recording a 10.8% increase in June. The underlying asset for these contracts is 50 ETH.

The USD value of trading volume for BTC and ETH-backed products saw a substantial increase. A total of $46.8 billion was traded, marking a 24.6% increase. This is the highest figure since May 2022.

Major players appear hopeful amidst the surge in applications in the United States. The speculation and increased trading volume could have a positive impact on CME Group’s upcoming product, Ethereum-Bitcoin Ratio Futures, which is planned to be launched later this month. However, this requires regulatory approval.

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