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CME's Ethereum Futures Maintain Momentum, $34 million in Daily Trading Volume

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CME’s Ethereum futures maintain momentum, sees $34 million in daily trading volumes

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

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