The Chicago Mercantile Exchange (CME) has recorded a large volume of Bitcoin futures (BTC) trading in the last twelve months. “More than 2.2 million contracts were sold in 2020,” a spokesman for the Chicago Mercantile Exchange told Cointelegraph. Each cash-settled Bitcoin CME futures contract costs 5 BTC in USD.

“The mall recorded higher than normal numbers when the bitcoin price rose in December 2020 after breaking a full-time high of $ 1,982,922 on December 1, an increase of 114% from the previous year,” said a spokesman for CME.

According to the CME Group, the average daily open interest, or ADOI, recorded “11,108 contracts (55,540 bitcoin equivalents) in the fourth quarter, up 233% from the fourth quarter of 2019.” The major players also came to the auction, as shown by the number of stakeholders open to the stock exchange, or LOIH. A spokesman for the Chicago Mercantile Exchange said: “LOIHs rose to a record high of 110 in the first week of December, indicating increased institutional interest.”

CME plans to launch its Ether (ETH) futures contract in February, which was originally announced in December 2020.

A number of major financial institutions showed interest in Bitcoin in 2020, including MicroStrategy and Square, which allocated large amounts of capital to the first cryptocurrency assets.

Source: CoinTelegraph

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