CME BTC Futures Open Interest Hit an All-Time High

The largest derivatives exchange in the world sees the open interest of its BTC futures grow more than twofold in October to surpass the previous all-time high in April.

Anirudh Tiwari
October 19, 2021
Blockchain News

Bitcoin Derivatives on the Rise

The largest derivatives exchange in the world, the Chicago Mercantile Exchange (CME) witnessed an all-time high open interest (OI) for its BTC Futures product of $3.66 billion as per data from

Open Interest in BTC futures signifies the total number of outstanding futures contracts on that specific exchange, in this case, the CME. The exchange’s futures contract has a size of 5 BTC as defined by the CME CF Bitcoin Reference Rate (BRR), the group’s standardized reference rate for Bitcoin. It also offers an Ether Futures contract that allows for the same function with ETH being the underlying asset.

“At one-tenth the size of one bitcoin, Micro Bitcoin futures will provide an efficient, cost-effective way for a broad array of market participants – from institutions to sophisticated, active traders – to fine-tune their bitcoin exposure and enhance their trading strategies, all while retaining the benefits of CME Group's standard Bitcoin futures,” stated Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products in the announcement of the Micro BTC futures product. 
Source: CME BTC Futures Open Interest - All Time

The exchange launched their Micro BTC Futures on May 3, the segment has grown to reach an average daily volume (ADV) of 21,000 contracts, including more than 2.1 million contracts, as per the group’s official press release that reported Q3 and Sep. 21 monthly market statistics. Since this contract is 1/10th the size of a Bitcoin and 1/50th of the contract size of CME’s BTC Futures contract, it allows all kinds of traders to effectively manage BTC’s price risk.

About the CME Group

The CME Group is the world’s leading derivatives marketplace catering to all types of asset classes such as equities, commodities, foreign exchange, interest rates, equity indices, and cryptocurrencies like Bitcoin and Ether. As reported by Hedgeweek, the group launched the first-ever sustainable derivatives clearing service on Sep. 27.

Find more about the CME Group here:

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Anirudh Tiwari

Anirudh is a cryptocurrency analyst and writer who specializes in derivatives, DeFi, regulations and CBDCs. He has a Master’s degree in Finance. Before delving into crypto, he worked with a leading U.S. based investment bank. Apart from work, he is a music connoisseur and likes to play the drums. His largest holdings in crypto are Ethereum, Cardano, and Polkadot.

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