Bitcoin futures volume on CME and Bakkt fell sharply in March

Bitcoin • April 11, 2020, 10:42AM EDT
UPDATED: May 27, 2021, 11:59AM EDT
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Bitcoin futures volume on two regulated platforms - CME Group and Bakkt - fell sharply last month.

According to research conducted by The Block’s Larry Cermak, CME's daily average volume dropped by over 50% to $242 million in March, as compared to $493 million in February.

Bakkt’s daily average volume, on the other hand, fell by 38.7% in March from $26.94 million to $16.51 million in February.

Both the exchanges’ open interest, or the number of open futures contracts, also dropped month-on-month in March.

CME’s open interest fell to $127 million in March since reaching an all-time high of $338 million on February 14. Bakkt’s open interest, on the other hand, plunged to $4.6 million since reaching an all-time high of $19 million on February 14.
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AUTHOR

Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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