CME Group’s crypto derivatives market isn’t just buzzing; it’s breaking records, clocking in a new quarterly high in trading volume thanks to the surging popularity of micro futures. The exchange reported that the average daily volume for its crypto derivatives hit 198,000 contracts in the first quarter, translating to a notional value of $11.3 billion.
Micro contracts are clearly the engine driving this growth. CME highlighted record activity in micro ether futures, with 76,000 contracts traded daily. Bitcoin and ether futures contracts also saw significant volumes, with 18,000 and 13,000 contracts traded respectively. Micro bitcoin futures trading experienced a dramatic 113% year-over-year increase, reaching an average daily volume of 77,000 contracts.
Notably, CME’s cryptocurrency contracts were already performing at record levels in January, setting the stage for a strong first quarter. The exchange offers standard bitcoin and ether futures contracts, each representing 5 BTC and 50 ETH respectively. In contrast, their micro counterparts represent just a tenth of each coin (0.1 BTC and 0.1 ETH). This smaller contract size is attracting traders by allowing for finer-tuned positions and more controlled risk management.