CME Ethereum (ETH) Futures Options Monthly Trading Volume Hits Record High

IconCryptoNewsTerminal Staff29 May, 2024

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CME Ethereum (ETH) Futures Options Monthly Trading Volume Hits Record High

According to The Block, the Chicago Mercantile Exchange (CME) Ethereum (ETH) futures options monthly trading volume reached a record high of $1.26 billion in May, more than doubling from $615.75 million in April. This surge in trading activity suggests growing institutional interest in Ethereum, likely driven by the increasing anticipation of the eventual approval of a spot ETF for the cryptocurrency. Analysts at cryptocurrency market maker Wintermute noted that "CME ETH futures open interest is also approaching record highs, and ETH options implied volatility (IV) has expanded across short-term (1w, 1m, 3m, 6m) tenors." This further supports the notion that institutions are becoming more involved in the Ethereum market. The growth in institutional interest in Ethereum is a positive sign for the cryptocurrency's long-term prospects. As more institutions adopt Ethereum, it will become more widely accepted and used, which will drive up its price.

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