At Chicago-based CME, Chicago Mercantile Exchange, it is possible to trade with bitcoin futures, which is like a security that is exposed to the price of bitcoin.
This is intended to make it easier for retail investors to expose themselves to the price of bitcoin. CME has offered its costumers to trade in bitcoin futures since December 2017.
Trading volume increased by 41 percent
Now, a new report shows that the daily trading volume of the bitcoins futures increased by 41 percent on CMEs platform during the third quarter compared with the second quarter this year, the exchange writes on Twitter.
In Q3, Bitcoin futures average daily volume rose 41% and open interest was up 19% over Q2 . Learn how market participants are using BTC to manage risk in changing markets. https://t.co/Yt41SzsHku pic.twitter.com/Kw4OX0QaKT
— CME Group (@CMEGroup) October 17, 2018
The increased trading in futures could show that there is an increased interest in bitcoin trading. At the same time, the crypto market has fallen and the volumes on the normal crypto exchanges have declined during the year, something that could indicate the opposite, which is that the total interest in cryptocurrencies has decreased.
Trigger a new rally
SEC, United States Securities and Exchange Commission, has previously rejected multiple bitcoin ETFs, exchange-traded funds tracking the price of bitcoin.
However, the fact that the new report now shows that interest in bitcoin futures has increased might affect the chance that the SEC will approve a bitcoin ETF in the near future. This is because it is important that there is a great interest in the asset before the SEC approves an ETF, Cointelegraph writes.
If a bitcoin ETF is approved, Ran Neuner, a crypto analyst at CNBC, recently has said that it could trigger a new rally for cryptocurrencies that could make the bitcoin price explode.