Bitcoin has been in the news due to different reasons. One of them is that institutional and other important investors are starting to place their investments in BTC. The Chicago Board Options Exchange (CBOE), one of the first financial institutions to offer Bitcoin futures contracts (XBT), has experienced a new record. On Wednesday it has registered the highest trading volume record since launching back in December 2017.
Bitcoin Futures New Record at the CBOE
According to some reports, 19,000 bitcoin futures contracts have been traded on Wednesday on the CBOE. Around 18,000 bitcoin futures were traded for the next month.
Back in December 2017, the CBOE and the Chicago Mercantile Exchange (CME), started to offer bitcoin futures contracts. These two institutions are part of the most important financial institutions in the United States and decided to include bitcoin futures for their clients.
This was one of the first institutional approaches towards Bitcoin that the market experienced in 2017. Moreover, the new record marks the increased interest for bitcoin futures contracts.
CBOE Options Institute Senior Instructor Kevin Davitt commented:
“Yesterday was the highest daily volume for Bitcoin futures since their introduction here at CBOE nearly five months ago. The leas month May futures traded 18,210 contracts, and across the term structure a total of 19,000 bitcoin futures traded here yesterday. The previous high-volume session was January 17th with just less than 15,500 contracts traded.”
At the same time the CME did not lag behind and registered important numbers on Wednesday, managing 11,000 contracts.
“We will certainly be watching to see if this is a volume aberration or if more and more institutional types are moving into crypto,” explained Mr. Davitt. “The overall bullish sentiment continues in XBT Bitcoin Futures.”
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