1. 24/7 trading: Around-the-clock Crypto futures and options trading, designed to align with the nonstop nature of the market, is scheduled to begin on Friday, May 29, at 4:02pm Central Time (CT), pending regulatory review.
2. 75% market cap coverage: With the launch of ADA, Micro ADA, LINK, Micro LINK, Lumens and Micro Lumens, our suite now covers the vast majority of the total crypto market cap.
3. Volume milestones: Our Crypto product suite has officially crossed $7.3 trillion in total notional volume.

Market sentiment and economic outlooks shifted notably during the first quarter of 2026. After a sharp decline in early February, when our CME CF Bitcoin Volatility Index hit its highest level since 2022, cryptocurrency prices entered a period of consolidation. This cautious tone was mirrored in broader macroeconomics as persistent inflation, geopolitical events and trade policy uncertainty fueled higher expectations for rates.

Despite prices remaining lower than Q1 2025, our Crypto product suite experienced significant growth, with total average daily volume (ADV) rising from 191,000 to 310,000 contracts traded year-over-year. This strong participation across both institutional and active traders coincided with a major milestone for bitcoin in early March: the mining of its 20 millionth coin, a moment that reinforced the commodity’s transparent supply mechanics.

The defining event of the quarter was the announcement of the upcoming change in how the market manages crypto risk: we are moving toward a marketplace that is more continuous, more diversified and more integrated into the global financial landscape.

The upcoming shift to 24/7 trading on May 29* is a natural next step in this journey. By bringing our suite into closer alignment with the nonstop nature of crypto markets, we ensure you have the ability to manage exposure on your own terms, at any hour. This always-on access provides the same security and reliability you expect from a regulated exchange, combined with the flexibility the crypto market requires. 

Reach out to a broker or clearing firm today to ensure your account is ready for the first weekend of 24/7 trading. 

The transition toward a more mature market structure includes the broadening of choice. To this end, in February, we introduced Cardano (ADA and Micro ADA), Chainlink (LINK and Micro LINK) and Stellar (Lumens and Micro Lumens) futures. By offering both larger- and Micro-sized contracts, we provide participants with flexible, capital-efficient tools for wider risk management, which has led to nearly $116 million transacting across the new futures since launch. Our product expansion will continue in Q2 with the addition of Avalanche and Sui futures in larger- and Micro-sized contracts on May 4.*

*Pending regulatory review 

This quarter, average daily open interest (ADOI) reached 313.9K contracts, up 25% versus Q1 2025. As open interest (OI) signals sustained, long-term conviction rather than transient daily volume, this suggests that despite Q1 price discovery and shifting trends, capital is staying in the marketplace.

• Ether anniversary: We celebrated five years of Ether (ETH) futures as the combined ADOI for ETH and Micro Ether (MET) options rose to more than 51K contracts in Q1.
• Solana momentum: One year since launch, Solana futures have become key contracts, with options seeing the highest volume and OI in Q1.
• Spot-Quoted futures surge: Our SQFs saw a combined quarterly volume hit its highest level to date, exceeding 4.5 million contracts.

*Launched in February 2026

As price discovery intensified in Q1, participants turned to our expanded risk management toolkit, particularly the Bitcoin Volatility Index (BVX), which quantifies 30-day forward-looking implied volatility and provides the transparency needed for traders to calibrate their strategies against market sentiment.

In the options market, precision was evident through a sophisticated shift in positioning. Although the quarter included phases of price discovery, the 3:1 call-to-put open interest ratio for March expirations suggested that many participants were harnessing volatility to either position for recovery or lower their cost basis through yield-generating strategies like call-overwriting.

Our Spot-Quoted product suite (QBTC, QETH, QSOL, QXRP) was recently honored as the “Most Innovative Contract of the Year” at the FOW International Awards - a testament to its continued success in bridging the gap between traditional finance and crypto markets.

Source: CME Group

• Tracking Crypto Drawdowns with the CME CF Bitcoin Volatility Index (BVX): Understand market sentiment before the trade. This guide explains how to use the BVX to quantify 30-day forward-looking implied volatility to better calibrate your strategies.
• Bitcoin Options: Volatility Spikes and Recovery Signals: Go beyond the headlines to see what the data is actually saying. We analyze how March expiry data and risk reversals provided a sophisticated signal for a potential trend recovery.
• Navigating the Crypto Market Evolution with Cardano, Chainlink and Stellar Futures Ecosystem Expansion: The market is no longer just a bitcoin story. See how our newest futures provide institutional-grade access to an additional 75% of the total crypto market cap.
• Access Comparison: Spot-Quoted Futures vs. ETFs vs. Direct Spot: We compare the capital efficiency and equity-style pricing of our SQF suite against other popular exposure methods.
• Crypto Catch-Up | Q4 2025: Context is key for long-term planning. Revisit the foundational growth and milestones from late 2025 that set the stage for this year's structural shifts.