The data shows that the Chicago Mercantile Exchange (CME) Bitcoin futures traded $ 563 million on April 4, with the first 10 crypto bots trading $ 685 million, and Wall Street is currently receiving a significant portion of the BTC futures market .
CME Sees Great Rise in Bitcoin Futures Trading Volume
Following the decision by the Chicago Board Options Exchange (CBOE) to stop Bitcoin futures, the Chicago Mercantile Exchange (CME) stepped in and took over most of the market.
The inclusion in any major stock market digital asset derivatives market will benefit the crypto industry in terms of both legitimizing both the liquidity and the sphere.
The latest data from Messari Crypto, a cryptographic currency research company, shows that CME has a significant volume. According to CME, BTC futures traded at only $ 563 million on April 4.
Although the exact amount has not been confirmed by CME, the company lists the number of Bitcoins in each contract as well as the number of contracts traded. With a deal of 5 BTC per contract and a Bitcoin price of $ 5,000 yesterday, the 22,542 contracts were traded over $ 500 million.
Trading Volume Makes CME Equivalent to Large Crypto Stock Exchanges
Mati Greenspan, senior market analyst at EToro, noted that this is important for Bitcoin markets:
”Although Wall Street's contracts are only paper and not settled in bitcoin, it is still an important part of the market now.“
The success of Bitcoin futures has led CME to expand its futures offer and to launch alım Micro E-mini işlem Futures contracts for trading.
According to See It Market, contracts must be ready to trade in early May of this year. The report also noted that markets for trading would be S & P 500, NASDAQ 100, Russell 2000 and Dow.
The new Micro E-mini contracts will be one-tenth of the size of their own equity indices, providing greater control over more contracts for the same price. This will enable investors to grow more than one profit target. The Bitcoin futures market continues to evolve even after CBOE futures contracted bitcoin futures transactions.
As more investors and merchants participate in BTC, derivatives and other complex instruments will become more important for protection against risk and volatility.