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CME Reports Uptick in Bitcoin Trading Ahead of Halving

CME Bitcoin futures and options have seen a ramp-up in trading activity ahead of this week’s halving.

Year-to-date, Bitcoin futures average daily volume (ADV) reached 8,456 contracts (42,280 equivalent of bitcoin), up 43% compared to the same period in 2019. Options on Bitcoin futures total volume is now over 2,250 contracts and a record 216 contracts traded on May 6.

Open interest (OI) in both futures and options reached new highs on May 7 of 9,783 contracts (48,900 equivalent bitcoin) and 555 contracts (2,800 equivalent bitcoin), respectively. Large open interest holders in Bitcoin futures reached a record of 62 during the week of April 14, reflecting strong institutional interest.

CME adds that YTD average daily open interest of 5,269 contracts (26,300 equivalent bitcoin), is up 33% yoy, and that there were 58 average large open interest holders (25+ contracts) in April.

Finally, the exchange reports that more than 4,500 unique, active accounts have traded since launch, with 844 new accounts added YTD, 2.3 times more yoy.

Julie Ros

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