New report shows: Bitcoin futures trading has increased sharply

New report shows: Bitcoin futures trading has increased sharply.

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Tim Haldorsson

tim.haldorsson@trijo.co

According to a new report, trading with bitcoin futures has increased lately. Now, some believe that the increased interest can lead to a bitcoin ETF being approved.

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.

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.

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