CME’s Bitcoin Futures Keep Breaking Record Highs!

Bitcoin (BTC) Futures reached a breaking record of $1.7 billion in notional value traded in Chicago Mercantile Exchange (CME) on 26 June, as revealed in CME’s twitter on 28 June (see Exhibit 1).

Exhibit 1: CME Bitcoin Futures Record Open Interest & Notional Value

Source: CME Twitter

We noticed that following the tweet by CME, the contracts traded has reached a new high of 29,225 on 27 June (see Exhibit 2). For the open interest of BTC futures, it has hit a record-high of 6,128 contracts on 1 July 2019 (see Exhibit 3).

Exhibit 2: Daily Volume and Open Interest of Bitcoin Futures on 27 June

Source: CME Group

Exhibit 3: Daily Volume and Open Interest of Bitcoin Futures 1 July

Source: CME Group

Changpeng Zhao, the CEO of Binance revealed its plan to offer futures contracts during the keynote speech at the Asia Blockchain Summit in Taipei on 2 July. The new trading platform aims to support the long and short trading contracts for different crypto assets. While there is no exact launch date for Binance futures trading platform, a simulation test version will go live within the next few weeks.

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