CME bitcoin futures monthly volumes hit yearly high

Quick Take

  • CME Group’s bitcoin futures market saw monthly volumes hit their highest level of the year. 
  • With one day left in the monthly, the market’s volumes topped $53.3 billion. 

Despite dwindling volumes across cryptocurrency trading venues and exchanges, CME Group clocked its highest monthly volumes of the year in July, according to data from The Block's data dashboard. 

CME's bitcoin futures market saw volumes for July top its previous high in April, with the exchange clocking in volumes of $53.33 billion with one day left in the month. In April, the firm saw $53.06 billion worth of contracts trade hands. 


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As of July 29, open interest in the CME bitcoin futures market stood at $2.5 billion. The market — popular among institutional investors like hedge funds and large trading firms — stands out in the crypto industry. Exchanges across the space have been under pressure from low trading activity, which makes up the lion's share of their revenues. 

Spot trading volumes are close to their lowest levels of the year, with The Block's data dashboard showing the seven-day moving average for spot crypto trading at $11.1 billion. That's about a quarter of where it stood when it clocked in a year-high above $40 billion in March. 

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].


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