As a seasoned crypto investor with a few years under my belt, I’ve witnessed the evolution of the market and the role that exchanges like CME Group have played in shaping it. When Bitcoin futures were first introduced by CME in late 2017, I watched from the sidelines as the price soared to unprecedented heights. Fast forward to today, and I’m excited about the latest development: the potential launch of spot trading on the exchange.
As a researcher, I’ve come across an intriguing piece of news from the Financial Times. Based on their report published on Thursday, it appears that CME Group, headquartered in Chicago, is planning to introduce Bitcoin spot trading. This decision stems from a surge in demand for such a service.
The timeline for initiating Bitcoin spot trading on the exchange remains uncertain, as the necessary plans have not been fully developed yet.
Noting the significant role CME Group plays in the cryptocurrency market, it’s important to mention that they introduced Bitcoin futures as early as December 2017. This action came at the height of the bull market rally.
As a researcher studying the developments in the cryptocurrency market, I can share that in May 2021, I observed that the platform introduced micro Bitcoin futures contracts. This move was in direct response to growing demand from traders seeking smaller-sized futures contracts.
Based on information from CoinGlass, CME holds the largest open interest for Bitcoin futures contracts at present, amounting to approximately $9 billion. This surpasses the figures of significant crypto exchanges including Binance, OKX, and BitMEX.
As a crypto investor, I’d put it this way: In the beginning of 2020, CME introduced Bitcoin options on their futures contracts. However, when it comes to options value, CME trails behind Deribit by a considerable margin.
The growing demand for spot trading comes after the launch of several spot ETFs earlier this year.
Based on the latest figures, Bitcoin ETFs saw a total inflow of approximately $303 million on Wednesday.
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2024-05-16 09:08