CME Group Bitcoin Futures Hit $1.3 Billion Amid Parabolic Advance
Bitcoin’s intense price gains have sparked frenzied activity for CME’s product, which set a previous high last month.
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 bitcoin activity.
Bitcoin’s most recent seven-week bull run began to gather speed on April 1: on Tuesday, the largest cryptocurrency set a yearly high of $8,335.
Bitcoin’s own trading volumes similarly set separate daily records, with two days of back-to-back historic highs occurring this week.
CME, meanwhile, has called for increased regulatory participation in cryptocurrency, arguing that involvement of authorities is essential if the phenomenon is to be a success.