Cryptocurrency
The number of accounts trading CME bitcoin futures grew in Q1 amid volume slide
As reported by The Block, “CME Group’s bitcoin futures product saw a surge in new account trading in Q1 of 2020 in spite of a decline in the notional dollar value of volumes traded and open interest, the firm revealed exclusively to The Block. “Launched at the end of 2017, CME’s bitcoin futures product is […]
As reported by The Block, “CME Group’s bitcoin futures product saw a surge in new account trading in Q1 of 2020 in spite of a decline in the notional dollar value of volumes traded and open interest, the firm revealed exclusively to The Block.
“Launched at the end of 2017, CME’s bitcoin futures product is among the most noteworthy US-related bitcoin-tied financial products. The beginning of the year was marked by a surge in volumes with open interest above $1 billion at the end of February, as shown by data from Skew. Still, the party came to a halt after a March 12-13 sell-off, which resulted in steep losses for traders across the market and dried up liquidity across crypto derivatives markets…”