CME Becomes Biggest Bitcoin Futures Exchange as Institutional Interest Rises

Chicago Mercantile Exchange now tops the list of the biggest bitcoin futures trading platforms, accounting for nearly 20% of all open interest.

AccessTimeIconJan 7, 2021 at 11:27 a.m. UTC
Updated Sep 14, 2021 at 10:52 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Chicago Mercantile Exchange (CME) has taken the prime spot on the list of the biggest bitcoin futures trading platforms, indicating a continued rise in institutional participation.

  • With an open interest of $2.1 billion, the CME accounted for 19.09% of the global tally of $11 billion on Wednesday – the highest among major exchanges tracked by Skew, a crypto derivatives research firm.
  • OKEx was the second-biggest exchange with an open interest of $1.97 billion, while Binance, the word's biggest crypto spot exchange by trading volume, ranked third with $1.82 billion.
  • Open interest refers to the number of contracts traded but not squared off with an offsetting position.
Bitcoin futures open interest
Bitcoin futures open interest
  • Looking back a year, the size of the futures market was quite small. Global open interest stood at $3 billion on Jan. 7, 2020, of which the CME contributed just 7% or $224 million.
  • The CME has steadily climbed ranks over the past 12 months and more so over the past three months alongside bitcoin's meteoric price rally from $10,000 to record highs above $37,000.
  • The exchange is considered synonymous with institutional trading, as it prefers to trade futures of any product via an established and regulated exchange like the CME.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.