CME's Ethereum Futures Maintain Momentum, $34 million in Daily Trading Volume
Photo: Investing.com
(Investing.com) - Since its debut on Feb 7, the demand for Chicago Mercantile Exchange's (CME) Ethereum futures remained almost constant during the first week.
The Ethereum futures trading completed its full week on Feb 12. However, it nearly sustained the volume of its opening day for the first week. An average of 371 contracts was trading daily at 50 ETH per contract.
As reported by BTC PEERS, the product recorded over $30 million worth of contracts on its first day. In total, 1,856 contracts valued at around $160 million were traded in the first week. Meanwhile, a third of the week’s volume was generated during non-U.S. trading hours.
Surprisingly, despite the impressive statistics for its first week of operation, CME’s Ethereum futures trading almost doubled in the second week.
According to on-chain analytics provider Glassnode, Ethereum futures daily volume on CME surged to $75.8 million on February 17. The aggregate open interest now sits at a total of $62 million.
While the daily trading volume for Ethereum futures on CME totaled $40 million last Friday, it has almost doubled in the last five days; an indication that there is a growing demand for Ethereum from financial institutions.
Reprinted from Investing.com. The copyright is reserved by the original author.
Edited 18 Feb 2021, 10:03
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.