Average Cryptocurrency Derivatives Trading Volume on CME Reaches All-Time High of $11.3 Billion in Q1
A sharp rise in micro futures trading helped CME cryptocurrency derivatives trading volume set a new quarterly high.
Francisco Rodriguez | Edited by Steven Alpher Updated April 2, 2025, 12:50 UTC Published April 2, 2025, 12:16 UTC
Key points:
- CME recorded a record average daily volume of 198,000 contracts in cryptocurrency products, equivalent to $11.3 billion in notional value.
- The increase in activity was made possible by the increased interest in microcontracts, in particular microfutures on ether.
CME Group (CME) reported record activity in cryptocurrency derivatives markets in the first quarter of this year, driven by increased interest in microcontracts.
The company reported average daily volume of 198,000 contracts across its crypto products, representing $11.3 billion in notional value. It also reported record volumes for its microether futures, with 76,000 contracts traded, as well as BTC and ETH futures contracts, with volumes of 18,000 and 13,000 contracts, respectively.
Microbitcoin futures trading also saw a 113% increase year-over-year, reaching an average daily volume (ADV) of 77,000. The company's cryptocurrency contracts have already hit record levels in January.
Bitcoin and Ethereum futures contracts have a nominal value of 5 BTC and 50 ETH respectively, while their microcontracts are only 0.1 of each cryptocurrency. This reduced size allows for more precise trading and risk management.
Record crypto activity was part of a broader momentum in the derivatives giant’s business. CME reported a historic quarterly average daily volume of 29.8 million contracts in the first quarter, with records also set for U.S. Treasury bond futures, energy options and agricultural contracts.
