Derivatives giant Chicago Mercantile Exchange (CME) witnessed a surge in trading volume in January as the U.S. saw spot bitcoin exchange-traded funds (ETFs) win Securities and Exchange Commission (SEC) approval.
The total derivatives trading volume on CME rose 35% in January to $94.9 billion, according to data provided by CCData. This is the highest recorded trading volume for the exchange since October 2021. January saw the much-anticipated approval of spot bitcoin ETFs in the U.S, an important milestone for institutional investors as the products offer them exposure to the world’s largest cryptocurrency by market value.
CME is a Chicago-based firm whose business covers a wide span of financial, commodity and