CME's Bitcoin futures facilitated over 11 million BTC in volume last year

CME's Bitcoin futures facilitated over 11 million BTC in volume last year


The Chicago Mercantile Exchange, or CME, recorded significant volume for its Bitcoin (BTC) futures trading product over the course of last 12 months. “More than 2.2+ million contracts were traded in 2020,” a CME representative told Cointelegraph. Each cash-settled Bitcoin futures contract at the CME is worth the dollar value of five Bitcoin.

The trading hub recorded higher than normal numbers as Bitcoin’s price heated up in December, following a break of its 2017 all-time price high of $19,892 on Dec. 1. “BTC average daily volume (ADV) reached 11,179 contracts (55.9K equivalent bitcoin) in December, up 114% YoY [year over year],” the CME representative said.

Average daily open interest, or ADOI, “reached a record of 11,108 contracts (55,540 equivalent bitcoin) in Q4, up 233% vs. Q4 2019,” according to a statement from CME Group. Big players also showed up for trading, evident in the exchange’s large open interest holders, or LOIH, count. “The number of LOIH grew to a record

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