CME and Cboe see sharp fall in Bitcoin futures volumes

Statistics from CryptoCompare show that Bitcoin futures volumes at CME and Cboe fell sharply December compared to volumes the month prior.

Exchange operators CME Group and Cboe Global Markets saw a significant fall in volumes of Bitcoin futures in December, according to data provider CryptoCompare.

A report on market activity in December authored by CryptoCompare revealed that traditional exchanges CME and Cboe saw futures volumes fall 45.5% and 48% respectively, whereas crypto exchange BitMex saw its Bitcoin futures volumes increase by 18% last month.

CME Group’s average Bitcoin futures contract trading volumes decreased from $122 million in November, to just $66.5 million the following month. At the same time, Cboe Bitcoin futures decreased from a daily average of $20.5 million in November, to $10.65 million in December.

Cboe Global Markets confirmed plans to launch cash-settled Bitcoin futures in partnership with digital asset exchange and custodian Gemini in 2017. Shortly after, rival CME Group announced it would launch Bitcoin futures based on its reference rate of the USD price of the cryptocurrency, BRR.

CME Group CEO, Terry Duffy, claimed at the time that as the world’s largest regulated FX marketplace, the exchange is “the natural home for this new vehicle that will provide investors with transparency, price discovery and risk transfer capabilities”.

The statistics from CryptoCompare also revealed that Binance was the top crypto exchange in December by total monthly volume, although total monthly trading volumes among the top 10 exchanges fell 7.5% on average since November.