CME group sees good volumes on the first day of trading

CME groups Bitcoin futures option has seen the volumes of more than $2.3 million on the first day of the product’s public trading. The same has been confirmed from the company.

CME’s data which has been there on the official website has given confirmation about the successful rolling out on 13th of January which had begun as per their schedules and had seen ultimately the 55 contracts change their hands.

Every contract has corresponded to 5 BTC which means that at the ongoing price levels, these 55 contracts are worth an amount of $2.34 million.

The markets of Bitcoin had rallied on the day of their release and risen by over 5% for hitting the highs at the level of $8,550. The levels had remained absent previously since the month of November.

As per the reports, the enthusiasm was infectious in the advance of options debut which happened last week with the likewise gaining of Bitcoin which turned out to be significant as it ran up to Monday. CME, as well as their competitor Bakkt have reported the increase in the interest of futures in this period.

For this Monday, the futures of Bakkt have delivered aggregate volumes of the 2,907 contracts which were worth an amount of $19.94 million which was down nevertheless by 10% on previous sessions. At the similar time, the open interest had been up by 7% to reach $9.58 million.

The last week have seen in fact the release of two options as the other was from FTX which had started the trade a few days prior to CME.

As per data, the volumes that were reported for FTX were 3618 BTC.

About Mark Hansley

Mark Hansley with a Master’s Degree in Economics and a total experience of 7 years in the writing world, he has been among the most dedicated and lively person of the portal’s team. Also, Mark takes the entire accountability of the Business domain of this portal. He has been a part of this portal for 5 years now. Mark also trains new joiners. He writes his opinion and thoughts via news reports and blogs that entails interviews of prominent industry personalities, deals & agreements, new developments, stock markets, financial affairs, start-ups, mergers & acquisitions, cryptocurrency, digital economy, and much more.

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