CME Bitcoin futures volume surges 950% over last 5 days

posted 2 months ago
Coinciding with the latest rally of the price of Bitcoin, the volume of CME Bitcoin futures contracts has surged, trading upwards of $683 million. This marks an increase of ~950% since the beginning of the month. This suggests Wall Street is responsible for a significant amount of the Bitcoin futures market trading volume.

The total number of contracts traded on the leading derivatives platform was 22,542. According to the contract specifications, each one of them represents 5 BTC. Given that Bitcoin was trading at around $5,000 throughout the day, this gives us a total volume of around $563 million.
Tags: bitcoin, news