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CME Group Reports a Record Number of Bitcoin (BTC) Futures Contracts Traded in 2019



We are lower than two months into 2019 and the CME Group is reporting a report choice of Bitcoin (BTC) futures contracts traded within the first quarter of 2019. This is in keeping with an e-mail reviewed by the team at The Block. The e-mail is from a CME consultant and it said that February 19th noticed a report choice of BTC futures contracts industry on that exact day.

The e-mail said that:

Yesterday [Feb 19th] set a brand new report with 18,338 contracts traded. This is similar to 91,690 bitcoin or $360MN.

Q1 2019 is off to a robust get started,  ADV has progressed to 4,630 contracts (23,150 similar bitcoin), up ~13% from This autumn 2018 whilst [open interest] rose to 4,076 contracts, an growth of 21.5% over This autumn 2018.

Increased Interest by means of Institutional Clients

Additionally, the e-mail discussed that Institutional passion within the BTC futures contracts has often higher since remaining November.

Institutional passion has steadily risen and the choice of LOIHs (Large Open Interest Holders) has been preserving stable round 43 holders since November. A LOIH is an entity that holds no less than 25 BTC contracts.

About the BTC Futures Contracts Offered by means of the CME Group

The CME Group has had over 2,100 accounts buying and selling the futures contracts since their release at the 17th of December, 2017. The funding product supplies a chance for corporations and traders with an account with a registered futures dealer, to guess at the long term worth of Bitcoin. The contracts are in response to the CME CF Bitcoin Reference Rate (BRR), which aggregates bitcoin buying and selling job throughout primary bitcoin spot exchanges between 3:00 p.m. and four:00 p.m. London time.

The contract unit is for five BTC and buying and selling is terminated at the remaining Friday of the contract month. Settlement is most often the next Wednesday. For the month of February, the CME Bitcoin futures contracts expire tomorrow, the 22nd of February.

What are your ideas at the building up in industry quantity of the CME Bitcoin Futures contracts observed all through the primary quarter of 2019? Is this a clear indicator that institutional traders are warming as much as Bitcoin? Please tell us within the remark segment under. 

Disclaimer: This article isn’t supposed to offer monetary recommendation. Any further opinion herein is solely the writer’s and does now not constitute the opinion of Ethereum World News or any of its different writers. Please perform your individual analysis ahead of making an investment in any of the a large number of cryptocurrencies to be had. Thank you.

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