CME ETH futures OI hits record $1.4 billion, trading volume jumps three-fold

IconCryptoNewsTerminal Staff24 Jul, 2024

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CME ETH futures OI hits record $1.4 billion, trading volume jumps three-fold

CME ETH futures open interest (OI) has reached a record high of $1.4 billion, indicative of growing institutional interest in Ethereum. The CME, a leading derivatives exchange, has seen a surge in ETH futures trading activity since the launch of the U.S. ETH spot ETF. On Tuesday alone, 14,736 contracts were traded, three times the average daily volume this month. "The launch of the U.S. ETH spot ETF has energized the market, leading to a surge in ETH trading. More and more traders want exposure to crypto," said Giovanni Vicioso, CME Group's global head of crypto products. The increase in OI and trading volume suggests that institutional investors are becoming more comfortable with investing in Ethereum. This is likely due to the growing adoption of Ethereum by businesses and the increasing awareness of its potential as a store of value. As the Ethereum ecosystem continues to grow and mature, we can expect to see continued interest in CME ETH futures.

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