Institutional investors push Bitcoin and Ethereum futures trading to record highs

Futures trading in Bitcoin and Ethereum at CME Group is reaching new heights. The derivatives exchange sees the reason for this in the interest of institutional investors.

The trade in Bitcoin and Ethereum futures and options contracts reached a record high at CME Group in the third quarter. This is according to a press release from the company.

According to the report, an average record volume of 15,800 Bitcoin futures contracts were recorded in the third quarter. This represents an 11 percent increase from the previous quarter.

Open interest (OI) - the total number of outstanding futures and options contracts held by market participants at the end of each trading day - increased 22 percent for Ethereum compared to the second quarter. The number of options contracts for Ether increased 75 percent in the third quarter.

"While volatility and prices have mostly stayed within a range, resulting in moderate trading volumes this year, we continue to see an increase in open interest in our cryptocurrency range as investors build or hedge their portfolios," explained Gio Vicioso, Global Head of Cryptocurrency Products at CME Group.

The CME Group is the largest derivatives exchange in the world. It is based in Chicago, USA.

The derivatives exchange only launched new crypto products in April this year.