CME Crypto Derivatives Average Volume Hit Record $11.3B in Q1

CME Group (CME) saw record activity in its cryptocurrency derivatives markets during the first quarter of the year, driven by increased interest in micro-sized contracts.

The company reported average daily volume of 198,000 contracts for crypto products, representing $11.3 billion in notional value. It pointed to record highs across its micro ether futures, with 76,000 contracts being traded, as well as its BTC and ETH futures contracts with a volume of 18,000 and 13,000 contracts, respectively.

Trading in micro bitcoin futures also stood out with a 113% year-over-year increase, hitting 77,000 average daily volume (ADV).The company’s cryptocurrency contracts were already at a record back in January.

The exchange’s bitcoin and ether futures contracts have a notional value of 5 BTC and 50 ETH, respectively, their micro contracts represent only 0.1 of each cryptocurrency. This smaller size enables more precise trading and risk management.

The record-setting crypto activity came as part of broader momentum across the derivatives giant’s business. CME posted an all-time quarterly average daily volume of 29.8 million contracts in the first quarter, with records also set in U.S. Treasury futures, energy options, and agricultural contracts.