CME Bitcoin Futures Hit $1.76 Billion In Notional Value, Becoming All Time High
Bitcoin futures trading is fast becoming a popular investment choice in the last few months, especially after traditional institutions like the CME Group foraying in the digital currency space. The testimony to the fact is the latest report by CME stating that Bitcoin futures contracts crossed $1.76 billion on June 26. This is about 30% higher than the previous best.
CME Bitcoin futures reached a record $1.7B in notional value traded on June 26, surpassing the previous record by more than 30%. The surge in volume also set a new open interest record of 6,069 contracts as institutional interest continues to build. $BTC https://t.co/WqXSPX0raR pic.twitter.com/HjGKb9a0ah
— CME Group (@CMEGroup) June 28, 2019
Futures trading is one of the most popular modes of trading investments like stocks, commodities, and forex. However, futures trading in the crypto space is far from being mainstream. The scene is shifting, though, as more traditional investment companies like JP Morgan are starting to take Bitcoin futures seriously. Check out our predictions for Bitcoin to know more about the prediction of the coin by experts.
Consequently, the arrival of such institutional giants on the scene has forced crypto trading companies like Bakkt Trading to start offering futures trading, apart from usual buying and selling. Binance CEO Changpeng Zhao has announced at the ongoing 2nd Annual Asia Blockchain Summit 2019 in Taipei, that the world’s largest crypto exchange will offer futures trading very soon.
Based out of Chicago, Illinois, CME Group is one of the world’s largest financial market place for traditional investment assets. The group entered the crypto space a few months ago and has already had a huge impact on the market. With Bitcoin booming again since February this year, futures trading is a great option to pull traditional investors in the market. And as the market is heavily underserved, expect some big names to enter the space in the near future.