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CME Crypto Derivatives Average Volume Hit Record $11.3B in Q1

A surge in micro futures trading pushed CME’s crypto derivatives volume to the new quarterly record.

By Francisco Rodrigues|Edited by Stephen Alpher
Updated Apr 2, 2025, 12:50 p.m. Published Apr 2, 2025, 12:16 p.m. 1 min read
CME Group Headquarters (CoinDesk Archives)
CME Group Headquarters (CoinDesk Archives)

What to know:

  • CME reported record average daily volume of 198,000 contracts for crypto products, representing $11.3 billion in notional value.
  • Increased interest in micro-sized contracts, particularly micro ether futures, contributed to the record activity.

CME Group (CME) saw record activity in its cryptocurrency derivatives markets during the first quarter of the year, driven by increased interest in micro-sized contracts.

The company reported average daily volume of 198,000 contracts for crypto products, representing $11.3 billion in notional value. It pointed to record highs across its micro ether futures, with 76,000 contracts being traded, as well as its BTC and ETH futures contracts with a volume of 18,000 and 13,000 contracts, respectively.

Trading in micro bitcoin futures also stood out with a 113% year-over-year increase, hitting 77,000 average daily volume (ADV).The company’s cryptocurrency contracts were already at a record back in January.

The exchange’s bitcoin and ether futures contracts have a notional value of 5 BTC and 50 ETH, respectively, their micro contracts represent only 0.1 of each cryptocurrency. This smaller size enables more precise trading and risk management.

The record-setting crypto activity came as part of broader momentum across the derivatives giant’s business. CME posted an all-time quarterly average daily volume of 29.8 million contracts in the first quarter, with records also set in U.S. Treasury futures, energy options, and agricultural contracts.

CME FuturesCME Group

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