Chicago Mercantile Exchange (CME) Bitcoin futures smashed records in both volume and open interest in May. In a liquidity report, CME Group reveals that May showed massive growth with 223 new trading accounts, making it the most successful month for its Bitcoin futures product since launching in December 2017.
Average daily volume finished at 13,777 contracts, or about $515 million in notional USD-traded value, up 36% since April and 250% year over year.
Says Tom Lee, Fundstrat’s head of research,
“This is very bullish as the rise in Bitcoin futures volume reflects incremental institutional money.”