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CME Micro Bitcoin futures surpass 1M contracts as institutional speculation grows

Published 06/27/2021, 12:15 PM
Updated 06/27/2021, 02:00 PM
CME Micro Bitcoin futures surpass 1M contracts as institutional speculation grows

Institutional exposure to cryptocurrencies via derivatives continued to grow in the second quarter, as CME Group’s newly launched Bitcoin (BTC) micro contract received considerable uptick in its first two months of trading.

Since launching on May 3, CME’s Micro Bitcoin futures contract has already surpassed 1 million contracts traded, the Chicago-based derivatives market announced earlier this week. CME executive Tim McCourt said the new product has been popular among institutions and day traders seeking to hedge their spot Bitcoin price risk.

The Bitcoin price mostly traded between $30,000 and $35,000 last week. Source: Cointelegraph

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