Bitcoin (BTC) futures have experienced a significant 93% growth in daily volume over the last four months, according to CME Group, the market leader in this type of financial assets. According to information shared through Twitter, interest in contracts reached a rate of 2,400 contracts, an increase of 58% in future contracts over the previous four-month period of 2018.
Also, the CME Group issued a press release stating that it had reached a daily volume of 4.2 million futures contracts in the second quarter of 2018, nearly 13% more than the same period last year. Bitcoin (BTC) is part of the future contracts traded by this company, including metals and agricultural shares.
CME also manages the Bitcoin Reference Rate (BRR) and Bitcoin Real-Time Index (BRTI) indices, the former being a benchmark price averaged daily with global markets and the latter a real-time index for trading. The indices have been in operation since 2016, taking into account multiple cryptocurrency exchange platforms such as GDAX, Kraken, and Bitstamp.
It has been a semester of growth for CME Group’s Bitcoin (BTC) futures markets since they were launched in December last year
Another brokerage platform, which recently requested authorization from the U.S. Securities and Exchange Commission (SEC) to trade Bitcoin (BTC) futures was the Chicago Board Options Exchange (CBOE), which opened its offer of futures contracts before CME Group.
Thus, the SEC has received some comments regarding the approval of the Listed Investment Fund, and it is expected that, by August 16th, the decision will be made.
On the other hand, the current CBOE statistics maintain that Bitcoin (BTC) futures contract markets have a daily volume of 2,272 and 5,261 interest rate contracts, a 36% change concerning the previous four-month period.
In this way, the insertion of Bitcoin (BTC) in traditional financial dynamics is stimulated, on markets that are interested both in trading in cryptocurrencies and in knowing the benefits of distributed accounting technology, and as has been the case of dozens of companies that have launched investment funds in cryptocurrencies. In fact, the CME Group also filed a patent to create a private blockchain that can be modified for application in various industries.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.