Crypto Derivatives Volume at CME Group Jumps 129% in April, Driven by ETH Growth

CME Group’s cryptocurrency derivatives market saw a significant rise in trading activity in April, achieving a new average daily volume (ADV) of 183,000 contracts worth $8.9 billion in notional terms. This represents a 129% increase compared to the same month last year, indicating a growing institutional interest in crypto markets.

Ether led this growth, with CME’s ether futures ADV surging 239% to 14,000 contracts, while micro ether futures climbed 165% to 63,000. Micro bitcoin futures also experienced a 115% increase, reaching 78,000 contracts. The CME’s bitcoin and ether futures contracts carry a larger notional value of 5 BTC and 50 ETH, respectively. In contrast, micro contracts allow for more precise trading, representing just 0.1 of each cryptocurrency.

The exchange operator previously reported record cryptocurrency derivatives volumes in the first quarter of the year. For April, its overall ADV reached a record 35.9 million contracts, climbing 36% year-over-year.

Despite a challenging month for ether, which rose just 1.1% over the past 30 days, bitcoin price increased by 15.8%. The broader crypto market, as indicated by the CoinDesk 20 (CD20) index, saw a 12.1% increase.