The Bitcoin futures and options from the Chicago Mercantile Exchange (CME) are becoming increasingly popular and are breaking new highs.In December 2017, the CME Group, one of the world’s largest exchange operators for futures, introduced Bitcoin Futures. Institutional investors in particular now seem to be increasingly in demand. The numbers released on May 15th marked a new all-time high. A total of 10,789 Bitcoin futures contracts stood in the way of 53,945 Bitcoin (one contract corresponds to five Bitcoin) – a record.May 11 was particularly notable for the sheer volume of trade in one day.
There are also whales in futures trading
While one speaks of very wealthy Bitcoin owners of whales (> 1000 Bitcoin), the term Large Open Interest Holders (LOIHs) exists in futures trading. These large institutional positions are said to have also increased. On May 4, there should have been 66 LOIHs – also a record.
Bitcoin options are also gaining attention
A much younger product group at Bitcoin are the options, which offer even more sophisticated trading options than futures. Whether for hedging or just for speculation, options or warrants are among the most popular derivatives. These have only been available at CME for a short time. 5,000 options with a volume of 25,000 Bitcoin are said to have been traded since then.