July 2022 | Crypto Insights

  • 8 Aug 2022
  • By CME Group

CME Group Cryptocurrency futures and options reach all-time highs amidst market uncertainty

Although volatility has returned to the broader crypto market this year, CME Group’s Cryptocurrency product suite continues to be a haven of consistent liquidity, volume, and open interest (OI) for investors seeking to hedge their risk or gain exposure to the asset class.

Recent records

  • Q2 was a record quarter in terms of average daily OI (106.2K contracts) and second best in terms of average daily volume (57.4K contracts) across all Cryptocurrency products.
  • Ether futures (ETH) achieved a record ADV in Q2 of 6.6K contracts (+27% vs. Q1) while daily OI averaged 3.5K contracts. A record 26.5K contracts traded on June 15.
  • During the week of June 21, CME Group's Cryptocurrency futures combined number of Large Open Interest Holders (LOIH)* reached a high of 404, signaling growing interest from institutional and large sophisticated investors.

Source: CME Group

Source: CME Group

Enhancements to BTIC on Cryptocurrency futures help participants manage ETF risk

Basis Trade at Index Close (BTIC) is now available on Bitcoin, Micro Bitcoin, Ether, and Micro Ether futures against their respective CME CF Reference Rate published at 4:00 p.m. New York time.

The enhancement will enable market participants to better manage risk around the NAV calculation of North American Cryptocurrency ETFs by allowing them to trade Cryptocurrency futures at a spread or basis relative to their desired benchmark.

Cryptocurrency benchmarks: An expanded offering

  • On April 25, CME Group, in partnership with CF Benchmarks, launched Reference Rates and Real-Time Indices on 11 more cryptocurrencies, including Solana and Cardano.
  • Bitcoin-Euro and Ether-Euro Reference Rates and Real-Time Indices are also now live.

These new, non-tradable benchmarks provide price discovery and use the same methodology and criteria as other CME CF Cryptocurrency References Reference Rates and Real-Time Indices.

Source: CME Group. Data as of June 30, 2022, unless otherwise specified.

*A Cryptocurrency futures LOIH is defined as any entity that holds at least 25 contracts of the respective futures.


Cryptocurrency futures and options
ADV: 57.4K contracts
Open interest: 106.2K contracts



More expirations now available

The listing schedule for all Cryptocurrency futures and options has expanded to include six consecutive monthly contracts, plus four additional quarterly contracts, and a second December contract, if not already listed.

Holiday trading is here

CME Group's Cryptocurrency markets are now open for trading on most major U.S. holidays, apart from Good Friday, Christmas, New Year’s, and a half day on the day after Thanksgiving.

Fee discount on Micro Cryptocurrency options

Launched in March, Micro Bitcoin and Micro Ether options have traded over 85.6K total contracts. Now through January 31, 2023, enjoy a 50% reduction on exchange fees for Micro Crypto options contracts.

Case Study: Hedging Bitcoin price risk with Micro Crypto options

See how Micro Bitcoin and Micro Ether options can be effective risk management tools to hedge physical cryptocurrency exposure during periods of market uncertainty.

Now live: Access on-chain data from Crypto Quant

CME DataMine now offers access to the most comprehensive on-chain cryptocurrency data gathered from blockchain and major cryptocurrency exchanges via third-party data from CryptoQuant – build a deep understanding of the crypto market, improve price valuation, and enhance your trading strategies.