CME Bitcoin Futures Average Daily Volume Up 41% in Q3, Increased Asian Market is Helping
CME’s Average Daily Volume For Bitcoin Futures Grew 41% In Q3
A recent report from CME has shown that the market for Bitcoin futures is very hot right now. According to it, the trading of Bitcoin futures in the company has shown a significant jump in the third quarter of the year rising 41%.
In Q3, Bitcoin futures average daily volume rose 41% and open interest was up 19% over Q2 . Learn how market participants are using BTC to manage risk in changing markets. https://t.co/Yt41SzsHku pic.twitter.com/Kw4OX0QaKT
— CMEGroup (@CMEGroup) October 17, 2018
The firm has initially launched its Bitcoin futures contracts in December 2017 and, as a graph posted on Twitter shows, the daily average volume of contracts has hit more than five thousand contracts in the third quarter of 2018. This is a 170% increase when compared to the 1,854 contracts from the first quarter.
CME has also provided information on the number of unsettled contracts held by people trading in the market, a figure that has also grown recently going from 1,523 to 2,873 contracts this year.
The managing director of the company, Tim McCourt, has affirmed back in September that the company was seeing an increased interest from Asian markets and that the business was growing. According to him, from the 40% of Bitcoin futures that traded outside of the United States by the company, half of them are coming from Asia.