CME Group reported record volume for its bitcoin (BTC) futures on May 13 as the cryptocurrency’s surprise bull market continued. CME, which together with the Chicago Board Options Exchange (CBOE) became the first provider of bitcoin futures to the market in December 2017, saw an all-time record of 33,700 contracts on Monday. That figure represented an equivalent 168,000 BTC ($1.35 billion) — an almost 50% rise versus the previous high of 22,500 contracts and 112,700 BTC (currently $909.2 million) on April 4. At the time, CME had warned over a 17% net income drop for Q1 2019 despite the brisk …

United States-based cryptocurrency exchange ErisX recently announced the public launch of its spot market trading, a move that takes the company a step closer to its goal of being a one-stop shop for the trading of spot and futures contracts in a regulated environment. Per the information on its product page, ErisX will support dollar trading pair with bitcoin, bitcoin cash, ether and litecoin — in addition to bitcoin trading pairs with the other three cryptocurrencies. What’s ErisX’s plan in the crypto space? Since 2017, ErisX has been building a trusted market infrastructure to support the institutional adoption of cryptocurrency. …

United States derivative market CME Group has reported a 17% fall in net income for the first quarter, according to a news release on May 1. Despite revenues rising over the three-month period, earnings stood at $497 million, compared with $599 million this time a year ago. CME Group chairman and chief executive Terry Duffy said the results amounted to the third-highest quarterly volume in its history “despite low levels of volatility in several product areas.” The group’s revenue had hit record highs in Q1 2018, with volatility in the markets helping to drive trading in its futures markets. In …

The overall institutional investment in Bitcoin (BTC) futures on the Chicago Mercantile Exchange (CME) decreased this past week, according to data published by the United States Commodity Futures Trading Commission (CFTC) on April 9. The data shows that as of April 9, institutional investors and asset managers had 244 open long positions, a decrease of 71 from April 2, and 80 open short positions, nine less than one week before. Also, the data show only three open spreading positions for institutional investors, 32 less than the previous week. As of the April 9 data, the number of short positions among …

Leading United States derivative market CME Group pointed out that its Bitcoin (BTC) futures reported a record trading volume on April 4, according to their tweet. Per the tweet, the volume of its Bitcoin futures hit an all-time-high of over 22,500 contracts on April 4, which is equivalent to about 112,700 BTC. The previous record has been hit on February 19 and was reportedly over 18,300 contracts, equivalent to 64,300 BTC. CME Bitcoin Futures Cumulative Volume on April 4, 2019. Courtesy of CME Group The CME Bitcoin Futures, according to a dedicated frequently asked questions page, were launched on December …

Terry Duffy, CEO of leading United States derivative market CME Group, told Business Insider Monday, March 25, that Bitcoin’s finite amount is a challenge for regulators. According to Duffy, the inability to run Bitcoin (BTC) on a deficit is challenging for regulation. He further explained: "The governments can't run unless they can run on a deficit. I am trying to figure out why they would say, 'Sounds good to me, because I want to be responsible and run everything on even-for-even basis. I can't borrow against anything.'" Therefore, a major selling point of most cryptocurrencies, a limited supply, is an …

Terry Duffy, CEO of leading derivative market CME Group, has said that until governments start to accept cryptocurrencies, it is very difficult for major commercial banks to get involved in the market. Duffy made his comments during an interview with Bloomberg published on Feb. 14. When asked if Bitcoin’s (BTC) price has hit its bottom, Duffy said that he is not sure. The interviewer also brought attention to the JPM Coin, the cryptocurrency soon to be launched by United States banking giant JPMorgan to increase settlement efficiency, as recently reported by Cointelegraph. Duffy outlined a change in JPMorgan Chase’s attitude …

Analysts from global investment bank JPMorgan Chase believe that the protracted crypto bear market is driving away institutional investors, Bloomberg reports on Tuesday, Dec. 18. Analysts from JPMorgan, along with global market strategist Nikolaos Panigirtzoglou, have reportedly stated that involvement of institutional investors in Bitcoin (BTC) “appears to be fading.” In a jointly released research note, analysts have concluded that “key flow metrics have downshifted dramatically,” including a decline in the Bitcoin futures market. The experts reportedly noted the decreasing index of open interest (OI) — the amount of open contracts on Bitcoin futures — on the Chicago Board Options …

Her Majesty’s Royal Mint, the institution responsible for producing physical coins for circulation in Britain, has been unable to launch its gold-backed cryptocurrency after the government vetoed the project, Reuters reports Oct. 25. As reported, the Royal Mint had first unveiled it project to issues as much as $1 billion worth of digital gold tokens, dubbed Royal Mint Gold (RMG), back in 2016, which were to be traded on a blockchain-based platform run by U.S. exchange CME. Blockchain tech firm BitGo was set to be responsible for developing RMG’s multi-signature crypto wallet. The project had been pitched as an easy …

Bitcoin (BTC) futures trading at the Chicago Mercantile Exchange (CME) has continued to grow in Q3, the U.S.-based exchange reported in a tweet Wednesday, Oct. 17. The CME has revealed that the average daily trading volume (ADV) of Bitcoin futures has increased by 41 percent in Q3 over Q2, while open interest (OI) — or the number of open contracts on Bitcoin futures — has risen by 19 percent in the third quarter. CME Bitcoin Futures ADV and OI in Q1, Q2, and Q3 2018. Source: CMEGroup Compared to the results of the second quarter over the first quarter, the …

Less than a year after the launch of the first ever futures contracts for Bitcoin, Ethereum could be the second cryptocurrency to be traded on regulated futures exchanges. It’s understood that the Chicago Board Options Exchange (CBOE), the same platform that launched Bitcoin futures in December 2017, is waiting for the green light from the Commodities Futures Trading Commission (CFTC) to launch Ethereum options by the end of 2018. The CBOE will base its ETH contracts on the Gemini cryptocurrency exchange market — the base it already uses for its Bitcoin futures. With the United States Securities and Exchange Commission …

The U.S. Securities and Exchange Commission (SEC) has rejected a total of nine applications to list and trade various Bitcoin (BTC) exchange-traded funds (ETFs) from three different applicants, according to a three separate orders published by the SEC today, August 22. The disapprovals come one day ahead of the anticipated deadline, August 23, stipulated for a pair of BTC ETFs that had been submitted by ProShares in conjunction with the New York Stock Exchange (NYSE) ETF exchange NYSE Arca. The SEC has now rejected a further seven proposed ETFs alongside the ProShares pair –– these being five further proposed ETFs …