The Chicago Mercantile Exchange Group (CME) has unveiled impressive statistics in its recent report regarding cryptocurrency contracts for January. During the first month of the year, CME experienced an average daily volume (ADV) of 198,000 contracts, totaling a notional value of $13.6 billion.
According to a press release issued on Tuesday, there has been a remarkable year-over-year increase in the company’s cryptocurrency ADV, which surged by 180%. This growth was significantly driven by the rise in both micro bitcoin (BTC) and micro ether (ETH) futures contracts, which recorded exceptional year-over-year increases of 255% and 223%, respectively.
The CME Group’s full-sized bitcoin and ether futures contracts have a notional value of 5 BTC and 50 ETH, respectively. However, their micro contracts, which represent just 0.1 of each cryptocurrency, provide traders with the opportunity for more precise trading and enhanced risk management, given their reduced size.
In addition to full-sized and micro contracts for these leading cryptocurrencies, CME also provides options on these futures. Such options allow for the implementation of more sophisticated strategies aimed at fine-tuning risk exposure.
These options contracts grant traders the right, though not the obligation, to buy or sell cryptocurrency futures at a predetermined price on or before a designated date, thus enhancing their ability to navigate market fluctuations.
Throughout January, the futures exchange also registered a total ADV of 25.7 million contracts—a clear indicator of heightened market activity.
Moreover, the CME Group recently announced plans to introduce options on Bitcoin Friday Futures (BFF) starting February 24, pending regulatory approval, signaling its continued commitment to expanding its cryptocurrency offerings.
